Belgian Court To Weigh Fraud In $506M Kazakh Award Fight

Law360 (November 8, 2019, 8:39 PM EST) -- A court in Belgium will consider over three days of hearings next week Kazakhstan's allegations that a half-billion arbitral award issued to two Moldovan oil and gas investors was procured by fraud days after the country submitted evidence that it says proves that the investors concealed facts from their auditors.

The hearings will take place Nov. 13-15 before the Brussels Court of First Instance as Anatolie Stati, his son Gabriel Stati and their companies look to enforce the award, which they won after Kazakhstan seized their petroleum operations in the country in 2010.

Kazakhstan is trying to block them from doing so,...

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