Judgments

iKapitalist Ltd. applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre (IAC). The arbitral award required Shalkar Prom Holding LLP and Mr. Nurgaliyev Alibek Nurlanovich to pay jointly and severally a debt of KZT 39,018,672, together with the arbitrator’s fee and registration fee. After reviewing the award, the AIFC Court found the application justified and granted enforcement. The defendants were given the right to apply to set aside the enforcement order within 14 days of service.

Following the dismissal of the claimant’s application challenging an arbitrator, the AIFC Court considered the Defendant’s request for legal costs. The Claimant accepted that a costs order was appropriate but argued that the amount claimed was excessive and insufficiently justified. The Court found that the costs schedule was adequately detailed, the involvement of multiple lawyers was reasonable, and the overall costs were not disproportionate. After making a modest reduction, the Court ordered the claimant to pay the defendant’s costs in the amount of USD 14,000.

Twenty-four Claimants applied to the AIFC Court for recognition and enforcement of an arbitration award issued by the International Arbitration Centre (IAC). The arbitration award ordered the defendants to pay jointly and severally a total debt of KZT 95,536,863, together with representative costs, arbitration fees, and other procedural expenses arising from an investment-related dispute. The AIFC Court reviewed the award, found the application justified, and granted enforcement. The Court further directed that all amounts recovered be transferred to the administrator of the iKapitalist investment platform for distribution among investors in accordance with the relevant agreements and investor register.

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.

Assel Sagandykova filed a claim against Smart Parking Technologies Ltd in the AIFC Small Claims Court. Before the matter was decided, the Сlaimant submitted a request to discontinue the proceedings following a settlement of the dispute between the parties. The Court accordingly ordered that the claim be discontinued.

Dimpulse Limited applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre (IAC). After reviewing the award, the Court found the application justified and ordered Green Logistics Solutions Ltd to pay KZT 2,864,700 together with arbitration costs of KZT 46,626.30. The Court also granted the Defendant the right to apply to set aside the enforcement order within 14 days of service and suspended enforcement pending the expiry or determination of such application.