Kazakhstan Loses 'Ill-Advised' Suit Over $506M Award

Law360 (April 1, 2019, 3:10 PM EDT) -- A D.C. federal judge on Saturday rejected Kazakhstan's bid to overturn a $506 million arbitration award, saying that a civil RICO suit is an "ill-advised" way to challenge a valid, foreign award.

In a 16-page order, U.S. District Judge Amy Berman Jackson said she would grant a bid to toss the Republic of Kazakhstan's Racketeer Influenced and Corrupt Organizations Act lawsuit against Moldovan investor Anatolie Stati, his son Gabriel Stati, and their two companies, Ascom Group SA and Terra Raf Trans Traiding Ltd.

"A RICO civil suit is not a vehicle to challenge non-frivolous litigation, or in this case, a valid...

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