Arbitral Digest

Matter

Ascom Group S.A. et al. v Republic of Kazakhstan (Nacka District Court, 5 July 2019)

Arbitration involving Ascom Group S.A. et al. v Republic of Kazakhstan; a linked record states that the court dismissed the Republic of Kazakhstan's and Kazakhstan National Bank's appeals against enforcement measures attaching listed shares, a cash-account balance and related claims.

  • Enforcement of foreign judgments
  • Asset tracing and recovery
  • State immunity

Procedural record

  1. 19 December 2013Arbitration

    19 December 2013Arbitration

    Stockholm Chamber of Commerce arbitral award (December 2013)

    Stockholm Chamber of Commerce

    Decision summary
    The tribunal ordered the Republic of Kazakhstan to pay Ascom Group S.A., A.S., G.S. and Terra Raf Trans Traiding Ltd approximately USD 500 million, together with interest and legal costs.

    Participants

    Ascom Group S.A.
    A.S.
    G.S.
    Terra Raf Trans Traiding Ltd
    Republic of Kazakhstan
    Stockholm Chamber of Commerce

    5 years, 6 months and 16 days later · 2024 days

  2. 5 July 2019Sweden

    5 July 2019Sweden

    Decision of Nacka District Court dated 5 July 2019

    Nacka District Court

    Decision summary
    The court dismissed the Republic of Kazakhstan's and Kazakhstan National Bank's appeals against enforcement measures attaching listed shares, a cash-account balance and related claims. It held that the property belonged to Kazakhstan for enforcement purposes and that state immunity did not bar enforcement.

    Participants

    Republic of Kazakhstan
    Kazakhstan National Bank
    Ascom Group S.A.
    A.S.
    G.S.
    Terra Raf Trans Traiding Ltd
    Nacka District Court
    Judge
    Thomas Strömgren
    Judge
    Björn Malmqvist
    Judge
    Mikael Grenefalk

    Authorities cited

    8
    • United Nations Convention on Jurisdictional Immunities of States and Their Property (2004)
      treaty
    • Swedish Act on Immunity for States and Their Property (Act (2009:1514) on Immunity for States and Their Property)
      statute
    • Swedish Enforcement Code (Utsökningsbalken)
      statute
    • NJA 2011 s. 475
      case
    • NJA 2009 s. 905
      case
    • Government Bill Immunity for States and Their Property (Prop. 2008/09:204)
      legislative material
    • SOU 2008:2
      legislative material
    • Jurisdictional Immunities of the State (Germany v. Italy: Greece intervening) (I.C.J. Reports 2012, p. 99)
      case

Matter record

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Ascom Group S.A. et al. v Republic of Kazakhstan (Nacka District Court, 5 July 2019) · Matter