Judgments

The Claimant sought court approval under the AIFC Companies Regulations for a merger with the Defendant LLP as part of a corporate restructuring. The Court found that all procedural requirements were satisfied, including shareholder approval, creditor notification, and financial adequacy, and that the arrangement adequately protected third-party interests. It sanctioned the merger and ordered its implementation, confirming that such amalgamation is permissible even where one entity is a non-AIFC LLP.

The Court considered a challenge to the jurisdiction of an Arbitral Tribunal in an IAC arbitration, focusing on whether the seat of arbitration was within the AIFC or outside it. The Court held that the arbitration clause must be interpreted as selecting the AIFC as the seat, thereby confirming the Tribunal’s jurisdiction and dismissing the challenge. The Court also dismissed the application for an anti-suit injunction as unnecessary in the circumstances.

The Court refused the Claimant permission to appeal, finding the application fundamentally flawed, filed by the wrong party, and lacking any real prospects of success. Although the general rule is that respondents do not recover costs in such applications, the Court departed from it due to the defective and misleading nature of the Claimant’s submissions and the need for the Second Defendant to respond substantively. As a result, the Claimant was ordered to pay KZT 1,250,000 in costs.

The Court refused the Claimant permission to appeal and later awarded costs to the Third Defendant. Although the general rule is that respondents do not recover costs in such applications, the Court departed from it due to the hopeless nature of the appeal and the need for the Third Defendant’s assistance. The Claimant was ordered to pay USD 2,500 in costs.

The claimant filed a claim in the AIFC Court seeking recovery of outstanding payments under a deferred sale and purchase agreement, including penalties and Court fees. The defendant failed to respond or fulfill its payment obligations. The Court found a breach of contract and ordered the defendant to pay the full outstanding amount, penalty, and costs.