The IAC Eurasia Arbitration Week 2024 was organised in cooperation with the international law firm, Herbert Smith Freehills LLP. Opening speeches were given by HMA Kathy Leach, UK Ambassador to the Republic of Kazakhstan, Mr. Thomas Krummel, IAC Chairman, The Rt. Hon. The Lord Burnett of Maldon, AIFC Court Chief Justice, and Dr. Patricia Nacimiento, Herbert Smith Freehills LLP. Panel discussions included topics by leaders in international arbitration on matters of current concern to the Eurasia and global arbitration communities:
Training programmes were being provided, including by Dr. Ilia Rachkov, Partner, Nektorov, Saveliev & Partners, on “A Global Approach for Eurasia Arbitration: Appointment & Challenge of Arbitrators”. A new book, International Investment Law (eds. N Kondrashov, K. Panerai, I. Rachkov) was launched. This latest publication in association with the IAC is expected to become a leading text in Eurasia on international investment law.
During the opening day of EAW24, the AIFC Court and IAC signed new cooperation with “Astana Development Center” LLP (a subsidiary organisation of the Akimat City of Astana) and Nazarbayev University.
The IAC Eurasia Arbitration Week 2024 was attended by more than 200 distinguished arbitrators, legal counsel, judges and diplomats from the US, UK, Eurasia, Europe, and Asia, and it has become a showcase dispute resolution event in Eurasia.
Mr. Campbell-Holt, the Registrar and Chief Executive of the AIFC Court and IAC, commented:
"International investors and their lawyers have told us that the AIFC Court and IAC now play a significant role in attracting investment to Kazakhstan. We have been operating for more than six years and have completed and enforced close to 2,500 cases including with foreign investors to Kazakhstan from many countries. Investors know us, they are increasingly trusting us, and they understand that their legal rights will be protected with independent and impartial justice applying the highest standards of the rule of law. EAW24 is a showcase event with participation from leading international and regional arbitrators and lawyers. We are proud that the AIFC Court and IAC are recognised and trusted globally."
The AIFC Court and IAC have been cited by cooperations and other investors as the preferred choice for international commercial dispute resolution in Eurasia. 2,459 cases have been completed and enforced with investors from 27 countries, including 110 Court Judgments, 506 arbitration awards, and 1,843 mediation settlements. Disputes have included contracts, companies, property, construction, transportation, PPP, logistics, and AIFC employment matters. Investors have included the AIFC Court and IAC in more than 10,000 business contracts for dispute resolution.
References:
Astana International Financial Centre (AIFC) is an independent jurisdiction with a favourable legal and regulatory environment and developed infrastructure for starting and doing business, attracting investments, creating jobs, and developing Kazakhstan's economy. www.aifc.kz
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 disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz
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. As of today, the IAC has considered 2349 arbitration and mediation proceedings involving parties from 27 countries. All arbitration and mediation awards are 100% enforced. https://iac.aifc.kz/
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