Kazakhstan Can't Beat $84M Asset Freeze In Sweden

Law360 (July 8, 2019, 6:34 PM EDT) -- Roughly $84 million of Kazakhstan’s assets in Sweden will remain frozen after a court held that the country isn’t entitled to immunity, marking another win for two Moldovan oil and gas investors seeking to enforce a more than $500 million arbitral award, according to a Monday announcement from the victors.

Stockholm's Nacka District Court denied challenges from Kazakhstan and the National Bank of Kazakhstan on Friday, upholding the attachment of the country’s assets to help secure an arbitral award over the seizure of petroleum operations belonging to Anatolie Stati, his son Gabriel and two of their companies, Ascom Group SA and...

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