MR. DAMIR MUKASHEV v. (1) OPTOGRAD LLP, (2) MR. KAIRAT BERDENEV, (3) MR. ALMAT BERDENEV

This case concerned an application to the AIFC Court for recognition and enforcement of a clarification of an arbitral award issued by the International Arbitration Centre (IAC) following a settlement agreement between the parties. The arbitral tribunal approved the settlement terms and provided that, in the event of non-compliance by the respondents, they would be jointly liable to pay the outstanding debt owed to the claimant. The AIFC Court found the application justified, recognized and enforced the award clarification, and ordered the respondents to pay KZT 14,168,711 to the claimant, subject to their right to apply to set aside the enforcement order within 14 days. Download PDF