(1) MS. AISULU OMAROVA (2) MR. ALTAI OMAROV v (1) NEF QAZAQSTAN LIMITED LIABILITY PARTNERSHIP (2) TIMUR GAYRIMENKUL GELIŞTIRME YAPI VE YATIRIM A.Ş. JOINT STOCK COMPANY

Ms. Aisulu Omarova and Mr. Altai Omarov sued NEF Qazaqstan LLP and Timur Gayrimenkul Geliştirme Yapi ve Yatirim A.Ş. in the AIFC Small Claims Court seeking repayment of matured bonds, penalties, and costs after the issuer failed to redeem bonds and pay amounts due on maturity. The court found that the issuer admitted its repayment obligation, upheld the contractual penalty provisions under AIFC law, and ruled that the guarantor was jointly and severally liable under the guarantee agreement. Judgment was entered in favor of the claimants, ordering both defendants to pay KZT 10,285,537.83 to the first claimant and KZT 5,142,768.91 to the second claimant within 28 days. Download PDF