Enforcement Fight Over $506M Award Nets Dueling Rulings

By Caroline Simson (November 18, 2021, 9:23 PM EST) -- A Belgian appeals court has refused to enforce a half-billion dollar arbitral award issued to a pair of Moldovan oil and gas investors due to fraud in the underlying arbitration, while Sweden's Supreme Court issued a ruling favoring the investors' enforcement efforts in that country two days later.

The Belgium Court of Appeal concluded on Tuesday that Anatolie and Gabriel Stati deceived their external auditors, KPMG, while the financial statements of their companies in Kazakhstan were being audited.

They also misled the tribunal that issued them the $506 million arbitral award by relying on audit reports that were "withdrawn" several years...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!