Judgments

The claimants applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre against two LLPs and two individual respondents. The Court granted the application and ordered the defendants to pay jointly and severally the outstanding debt, legal representation costs, success fee, arbitrator's fee, and arbitration expenses. The Court further directed that all recovered funds be transferred to the administrator of the iKapitalist investment platform for distribution among investors in accordance with the relevant agreements and investor register.

The Claimant, InvestRoom Ltd, applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre. The Court found the application justified and ordered the First Defendant to pay KZT 12,030,800 in outstanding debt and KZT 1,323,388 in arbitration costs. The Defendant was granted 14 days to apply to set aside the order before enforcement could begin.

Fifty-seven claimants applied to the AIFC Court to recognize and enforce an arbitral award issued by the International Arbitration Centre against Optograd LLP and two individual respondents. The Court granted the application and ordered the defendants to pay jointly and severally the outstanding debt, legal representation expenses, a success fee, and arbitrator’s fees. The Court also directed that all recovered funds be transferred to the administrator of the iKapitalist investment platform for distribution among investors in accordance with the applicable agreements and investor register.

Eighty-four claimants applied to the AIFC Court for recognition and enforcement of an arbitral award issued by the International Arbitration Centre against LLP Zhumyshy-Agro and its guarantor. The Court granted the application and ordered the defendants to pay jointly and severally the principal debt of KZT 110 million, accrued remuneration, penalties, legal expenses, success fee, and arbitration costs. The Court further directed that all recovered sums be transferred to the administrator of the iKapitalist investment platform for distribution among investors in accordance with the investor register and relevant agreements.

The Applicants sought to set aside or reopen several AIFC Court judgments that had refused permission to appeal and awarded costs against them. The Court dismissed the application, finding that it failed to identify any exceptional circumstances, procedural unfairness, or real injustice that could justify reopening the cases. The Court further certified both the application and earlier appeals as totally without merit and warned that continued meritless litigation could result in restrictions on the Applicants’ ability to bring further claims.

The Defendant sought an extension of time and permission to appeal two AIFC Court judgments arising from a dispute over increased construction costs for a hospital project. The Court refused both requests, finding that the appeal against the first judgment was significantly out of time and that no satisfactory explanation for the delay had been provided. The Court further held that none of the proposed grounds of appeal had a realistic prospect of success, as they largely challenged factual findings already determined at trial or sought to raise new arguments that could not be introduced on appeal.