Kazakhstan Loses 2nd Bid To Nix $506M Award In Sweden

Law360 (March 9, 2020, 7:45 PM EDT) -- A Swedish court on Monday rejected Kazakhstan's lawsuit seeking to invalidate a half-billion dollar arbitral award issued to a pair of Moldovan energy investors, saying the litigation, which focused on corruption allegations, was too similar to a proceeding the country already lost.

The Svea Court of Appeal concluded that the lawsuit was barred due to a "procedural impediment" since Kazakhstan was attempting to resolve the same issue as in the previous proceeding, in which it sought to have the $506.7 million award issued to Anatolie Stati and his son Gabriel Stati set aside. The Statis won the award, which includes additional...

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