PRIVATE COMPANY “IKAPITALIST LTD” v (1) “NURLY KUS” LLP, (2) SARA OMAROVA, (3) OLEG TYO

The AIFC Court considered an application by Private Company “iKapitalist Ltd” to recognize and enforce an arbitration award issued by the AIFC International Arbitration Centre (IAC) on 20 August 2024 in Case No. 73/2024. Justice Lord Faulks KC found the application justified and ordered “Nurly-Kus” LLP, Ms. Sara Omarova, and Mr. Oleg Tyo to pay jointly and severally KZT 40,085,263 in debt, along with arbitration and legal representation costs. The Court allowed the defendants 14 days to apply to set aside the order, and enforcement was stayed pending the expiry of that period or the resolution of any such application. Download PDF