Arbitral Digest

Matter

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

  1. 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.

    Supporting details

    8 authorities · 9 participants
    Republic of Kazakhstan
    Kazakhstan National Bank
    Ascom Group S.A.
    A.S.
    G.S.
    Terra Raf Trans Traiding Ltd
    Nacka District Court

    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
  2. Date not availableArbitration

    Date not availableArbitration

    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.

    Supporting details

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

Matter record

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