FREEDOM FINANCE JSC v EGOR ROMANYUK

Freedom Finance JSC brought a claim against its former vice-president, Egor Romanyuk, alleging that he breached confidentiality and non-disparagement obligations contained in a separation agreement by publishing critical statements about the company and its founder on social media. The Court found that the defendant had breached the non-disparagement clause and was therefore liable under the contractual penalty provision. However, applying Article 297 of the Civil Code of Kazakhstan and taking into account the claimant’s own conduct and principles of good faith, the Court reduced the contractual penalty from USD 5 million to USD 100,000. Download PDF