Judge Recommends Kyrgyzstan Pay Triple Daily Sanctions

By Diamond Naga Siu (November 5, 2020, 6:41 PM EST) -- A New York federal magistrate judge recommended Thursday to triple the daily payouts Kyrgyzstan must make to a Turkish hotel investment company, calling the "total failure" to pay most of its $11.6 million sanction for the past two years "egregious" and "staggering."

Kyrgyzstan was supposed to pay Sistem Mühendislik Inşaat Sanayi Ve Ticaret AS $5,000 a day for seizing the company's luxury hotel in 2005, but according to the judge, the total amount in delinquent payments by early May amounted to more than $2 million.

"The Republic's choices about how to spend its money make clear that the Republic places a...

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