Judgments

The Court considered a claim by the Claimant for sums due under agreements for the sale and purchase of farming equipment. The Court Order entered a default judgment against the Defendant due to failure to respond and required payment of the claimed amount and legal costs. The Defendant must pay the debt by the specified deadline or its equivalent in US dollars.

The Court considered an application by the Claimant seeking approval to be registered as a liquidator under the AIFC Insolvency Rules. The Court Order refused the application, finding that the Claimant lacked sufficient qualifications, education, and experience in insolvency practice. The Court noted that the Claimant may reapply upon obtaining the necessary credentials.

The Court considered applications by the Claimant seeking to liquidate and wind up AIFC branches of foreign companies, but concluded that such branches are not separate legal entities and cannot be wound up. The Court Order dismissed the applications and clarified that the proper procedure is cancellation of registration by the Registrar of Companies. The Claimant and Defendants ultimately agreed that no Court intervention was required beyond directing deregistration.

The Сourt reviewed an application to recognize and enforce an arbitration award issued by the International Arbitration Centre of Kazakhstan in 2025. The Сourt ordered the Defendants to pay substantial amounts for remuneration, penalties, and arbitration costs, while also requiring the Claimant to reimburse part of the arbitration expenses. The Order may be challenged within 7 days, and its enforcement is suspended during that period.

The court considered an application to recognize and enforce an arbitration award issued by the International Arbitration Centre in 2025. The court upheld most of the claimant’s monetary claims against the defendants, including principal debt, penalties, and arbitration costs, while rejecting the claim for currency risk compensation.

The Claimant applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre. The Court approved a settlement agreement under which the Defendants must repay a debt in instalments, imposing a penalty for delays and allowing immediate enforcement in case of breach. The agreement also includes an incentive for early or timely repayment, reducing the final payment amount if prior instalments are properly made, while granting the Defendants a 14-day period to challenge the order.