SIA RESTCOM GROUP v (1) BALKHASHPOLYMETALL LLP, (2) POLYMETTECH LLP

The claimant sought to set aside an IAC arbitral award and related AIFC Court enforcement order on the ground that they allegedly conflicted with the public policy of Kazakhstan due to an alleged scheme to frustrate creditor enforcement. The Court found that the underlying guarantee, debt recognition, and mediation settlement agreements were valid and enforceable, and that the arbitral award did not contradict any binding decisions of Kazakhstan courts. Accordingly, the Court dismissed the application to set aside the award and enforcement order. Download PDF