PRIVATE COMPANY “IKAPITALIST LTD” v (1) “ABN ALYANS” LLP, (2) NURLAN RYSBEKOV, (3) BAZARKUL AIDAROV

Private Company iKapitalist Ltd applied to the AIFC Court for recognition and enforcement of an arbitral award issued in IAC Arbitration Case No. 39/2023 concerning unpaid debt and related financial obligations owed by ABN Alyans LLP and two individual guarantors. After reviewing the arbitral award, the Court found the application justified and ordered the defendants jointly and severally to pay the outstanding debt, contractual penalties, legal representation costs, and the arbitrator’s fees. The Court granted enforcement of the award while allowing the defendants 14 days to apply to set aside the enforcement order. Download PDF