Matter
24 Claimants v Muldashev Tolegen Zakharovich and Eshkeev Alan Manarbekovich (AIFC Court AIFC-C/CFI/2026/0041; IAC Arbitration Case No. 311/2025)
The AIFC Court recognised and enforced an IAC Arbitration Case No. 311/2025 award requiring two defendants to pay 24 claimants debt, penalties, costs and the arbitrator’s fee, subject to a 14-day challenge period.
Procedural record
- 14 April 2026Arbitration
14 April 2026Arbitration
IAC Arbitration Award in Case No. 311/2025 dated 14 April 2026
- Award no.
- 311/2025
- Decision summary
- The award required Muldashev Tolegen Zakharovich and Eshkeev Alan Manarbekovich to pay jointly and severally in favour of the 24 claimants the debt, penalty, fine, currency-risk amount, representative and procedural expenses, a 20% fee and the arbitrator’s fee.
Participants
Adamov Danil Andreevich
Adilzhanov Galymzhan Turlybekovich
Almukhanov Mukhtar Abdrakhmanovich
Biltaev Talgat Zhanshin
Esmaganbetov Anuar Dautovich
Esmurzaev Erzhan Apbazovich
Logvinenko Yuriy Anatolievich
Lutsenko Georgiy Andreevich
Lutsenko Ilya Borisovich
Mitrofanova Natalya Pavlovna
Orazbaev Daniyar Muratovich
Otrubyannikov Aleksey Viktorovich
Promogaybo Pavel Pavlovich
Ramazanov Marlen Mukhtarovich
Ryskulbekova Dilnara Makhambetovna
Temirzhanov Aset Tuigynbekovich
Temirzhanov Zhumabek Tuigynbekovich
Berentayev Berik Muratovich
Kazhigaliev Aishuak Zholdybayuly
Abdirashidov Khusanjan Alisherovich
Eliseeva Marina Vladimirovna
Kerimkulova Shynar Beisenbekovna
Mukashev Damir Maksatovich
Elubay Aibek
Muldashev Tolegen Zakharovich
Eshkeev Alan Manarbekovich
Institution
- Arbitrator
- Snezhana Kutsenko
4 months and 21 days later · 143 days
- 4 September 2026Kazakhstan
4 September 2026Kazakhstan
Judgment and Order of the Court of First Instance of the Astana International Financial Centre in case AIFC-C/CFI/2026/0041 dated 4 September 2026
Court of First Instance of the Astana International Financial Centre
- Decision summary
- The Court recognised and enforced the measures in Part VII of the IAC Arbitration Award dated 14 April 2026 in IAC Arbitration Case No. 311/2025. It ordered the defendants to pay jointly and severally the specified debt and recovered costs to the administrator of the iKapitalist investment platform, and postponed enforcement until the 14-day period to apply to set aside the order had ended or any such application had been finally disposed of.
Participants
- Application
- Claim Form seeking recognition and enforcement of the IAC Arbitration Award in Case No. 311/2025 — Granted
Adamov Danil Andreevich
Adilzhanov Galymzhan Turlybekovich
Almukhanov Mukhtar Abdrakhmanovich
Biltaev Talgat Zhanshin
Esmaganbetov Anuar Dautovich
Esmurzaev Erzhan Apbazovich
Logvinenko Yuriy Anatolievich
Lutsenko Georgiy Andreevich
Lutsenko Ilya Borisovich
Mitrofanova Natalya Pavlovna
Orazbaev Daniyar Muratovich
Otrubyannikov Aleksey Viktorovich
Promogaybo Pavel Pavlovich
Ramazanov Marlen Mukhtarovich
Ryskulbekova Dilnara Makhambetovna
Temirzhanov Aset Tuigynbekovich
Temirzhanov Zhumabek Tuigynbekovich
Berentayev Berik Muratovich
Kazhigaliev Aishuak Zholdybayuly
Abdirashidov Khusanjan Alisherovich
Eliseeva Marina Vladimirovna
Kerimkulova Shynar Beisenbekovna
Mukashev Damir Maksatovich
Elubay Aibek
Muldashev Tolegen Zakharovich
Eshkeev Alan Manarbekovich
Court of First Instance of the Astana International Financial Centre
- Judge
- The Rt Hon. The Lord Burnett of Maldon KG PC DL
Other
- Representative
- Daniyar Niyazgulov (For: 24 Claimants)
- Representative
- Benefits & Partners LLP (For: 24 Claimants)