Yelubay Aibek v (1) Riakhanova Saltanat Tursunkhanovna, (2) Riakhanov Shyngys Nurtasovich

Yelubay Aibek applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre (IAC). The award required the defendants to pay jointly and severally the outstanding principal debt, remuneration, compensation for foreign exchange risks, penalties, fines, legal consultancy costs, and the arbitrator’s fee. Having reviewed the arbitral award, the AIFC Court found the application justified and ordered enforcement of the award. The defendants were granted 14 days to apply to set aside the enforcement order before any enforcement action could proceed. Download PDF