$506M Award Suit Ruling Rested On 'Instinct': Kazakhstan
Law360 (November 7, 2019, 7:42 PM EST) -- Kazakhstan has urged the D.C. Circuit to revive its lawsuit against Moldovan investors who won a half-billion-dollar arbitral award that the country says is tainted by fraud, arguing that the lower court's ruling to nix the case "rests on nothing more than an instinct."
The central Asian nation has accused Anatolie Stati, his son Gabriel Stati and their companies of engaging in "a sophisticated and wide-ranging illegal pattern of racketeering" by submitting false evidence to the arbitral tribunal that issued the allegedly fraudulent award, and then attempting to enforce it. It's seeking unspecified compensatory and punitive damages.
The Statis told the...
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