The signing ceremony was organised in the framework of a joint roundtable within the Astana Finance Days. The roundtable was opened by Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC, with contributions from The Rt. Hon. The Lord Woolf CH, AIFC Court Chief Justice, Barbara Dohmann QC, IAC Chairman, H.E. Sven-Olov Carlsson, Ambassador, Head of the EU Delegation to Kazakhstan and EUROBAK Honorary Board Member, and Julie Kussidi, EUROBAK Executive Director.

Ms. Kussidi commented:

“Considering the importance of the AIFC Court and International Arbitration Centre it is a great honour for the European Business Association of Kazakhstan to sign these Memoranda of Understanding. We believe in our continued cooperation in the future.”

Mr. Campbell-Holt added:

“The AIFC Court and IAC have successfully cooperated with EUROBAK for some time and we are delighted that we have now agreed MOUs which will further our cooperation for the future. European investors can be assured that they will receive dispute resolution at the AIFC of the very highest quality with application of the best international standards.”

At the roundtable, senior representatives of European companies and diplomatic missions had the opportunity to learn more about the AIFC Court and IAC and how to use their services.

EUROBAK is a non-commercial organisation representing the European business community in Kazakhstan. It was formed upon the joint initiative of EU companies, working and investing in Kazakhstan, and the Delegation of the European Union to Kazakhstan.

Reference:

AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. https://aifc.kz/

The AIFC Court. The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices.

The International Arbitration Centre (IAC). The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally.

The European Business Association of Kazakhstan (EUROBAK). The European Business Association of Kazakhstan (EUROBAK) was established in 1999 upon the joint initiative of EU companies and the Delegation of the European Union. It is a non-commercial organisation. EUROBAK Membership is made up of more than 145 companies, including leading global, European and Kazakhstani companies, as well as Diplomatic Missions from Europe and other countries. EUROBAK plays a key role in promoting and nurturing mutual understanding between Kazakhstan and the countries of the European Union in business as well as social spheres. Nowadays EUROBAK is one of leading associations in Kazakhstan. http://www.eurobak.kz/

The Arb-Med service was launched with a demonstration of a arb-med resolution of a financial dispute lead by an arbitration panel consisting of the IAC Chairman, Barbara Dohmann QC, and two IAC Arbitrators, Dr. Stephan Grigolli and Thomas Kruemmel. Sir Robin Jacob, an IAC Arbitrator and Mediator Panel member and a Justice at the AIFC Court, was the mediator. Four leading lawyers from the Kazakhstan legal community presented legal arguments to the arbitrators and mediator.

The IAC’s Arb-Med service and demonstration is the first of its kind at an international arbitration centre in Eurasia. Unlike arb-med services at other arbitration centres, at the IAC the mediator who is appointed to mediate the dispute has not been an arbitrator in that dispute. The mediator is independent from the arbitrators and is a neutral facilitator. It is expected that Arb-Med at the IAC will further enhance its capacity to resolve commercial disputes as quickly and cost effectively as possible.

The IAC has so far trained 36 Kazakh nationals with an international accredited mediator qualification in cooperation with the Centre for Effective Dispute Resolution in London which is a leading provider of mediator training. The latest of these trainings happened in Nur-Sultan and Almaty in June 2019.

Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC, commented:

“The IAC is committed to becoming the number one choice for alternative dispute resolution in Eurasia. Arb-Med is our latest initiative and we are proud to launch this new service today. We are also developing a mediator community in Kazakhstan that will be qualified to provide the very best international standards of mediation to assist parties to resolve their commercial disputes quickly and cost effectively at the IAC.”

Reference:

AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. https://aifc.kz/

The AIFC Court. The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices.

The International Arbitration Centre (IAC). The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally.

The Inaugural General Counsels’ League meeting took place in Nur-Sultan. The AIFC Court, the International Arbitration Centre, and Signum Law Firm, initiated the Leagues’ creation with the intention to provide a platform for leading general counsel in Kazakhstan and Eurasia to meet and discuss topical issues pertaining to their work and related law and business practices. Over 20 leading lawyers from various industries, economic sectors, and national corporations, formed the first meeting of League members.

The AIFC Court Justices, Justice Sir Rupert Jackson, and Justice Tom Montagu-Smith QC, supported the GCs League initiative and attended the inaugural meeting as special guests.

Mr. Christopher Campbell-Holt, Registrar and Chief Executive, AIFC Court and International Arbitration Centre:

“Since our launch in January 2018 we have aspired to support and contribute to the development of the professional legal community in Kazakhstan and Central Asia. The AIFC Court and the International Arbitration Centre Legal Education program is one of our priority programs and major contributions. We are also delighted to have this opportunity to cooperate with lawyers to launch and host the GCs League.”

Ms. Sofiya Zhylkaidarova, Managing Partner, Signum Law Firm, said:

“The idea of setting-up the GCs League has been cherished for some time. Being in a close cooperation with our clients, we have sensed the urgency of the need to create a certain platform for GCs, where they could discuss the issues of cross-industry cooperation, trends setting for the Kazakhstan business environment, exchanging knowledge and experience. We are proud to be a part of such an important project, from which we believe, both Kazakhstani legal and business communities will benefit. I would also like to express our special gratitude to the AIFC Court and IAC for supporting this initiative.”

This unique networking platform is intended to assist its members to exchange experience and knowledge and encourage the development of innovative ideas and solutions to improve business practices.

Reference:

AIFC The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets. https://aifc.kz/ru

The AIFC Court. The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices.

The AIFC International Arbitration Centre (IAC). The AIFC International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled leading international practice. It has its own panel of world leading arbitrators and mediators comprising many years of arbitration and mediation experience in commercial law areas including oil and gas, trade, construction, energy, Islamic finance, banking, and copy right. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally.

SIGNUM Law Firm is an independent Kazakhstan based leading law firm focused on Corporate and M&A, Commercial, Tax, PPP, IP and Tech and Litigation matters. SIGNUM lawyers successfully advise on numerous complex transactions and high-profile matters involving major local and international companies that operate in a wide range of business sectors (Energy and natural resources, PPP, Construction, FMCG, Telecom, Pharma, etc). We also work for governmental agencies and public sector. We strive to be leading law firm in Kazakhstan and our values distinguish us from the peers. www.signumlaw.com