The tribunal determined that Stans prevailed on jurisdiction and on the merits of its claim, awarding Stans a sum of approximately US $24 Million inclusive of damages, interest, and costs.
India and Kyrgyztan have given the final shape to the Double Taxation Avoidance Agreement (DTAA) and the bilateral investment treaty.
ASEAN is considering the possibility to start negotiations with the Eurasian Economic Union (EAEU) on creation of a free trade agreement
Kyrgyzstan President has ratified the trade-economic cooperation between the Eurasian Economic Union member states from one side and China from the other.
The economic and trade cooperation between Vietnam and the EAEU has achieved important results after two years since the signing of the Free Trade Agreement between Vietnam and the Eurasian Economic Union (Vietnam-EAEU FTA), contributing to creating a motivation for the economic development of each country and expanding cooperation in the region.
Kyrgyzstan backs the China-proposed Belt and Road Initiative and believes the initiative will greatly promote common development in the region.
Stans has entered into a litigation finance agreement to obtain incremental funding of Stans’ legal costs to continue with the international arbitration proceedings against the Republic of Kyrgyzstan.
It is expected that the new agreement will focus on political cooperation, trade and investment relations, economic cooperation in support of sustainable development, and other aspects of bilateral relations.
To date, the Republic has not complied with the order and the Company is considering various options for enforcement of the award.
The key issue in the case concerned the proper interpretation of the dispute resolution provision in the 2003 Investment Law, which was the basis for jurisdiction.
The Kyrgyz Republic currently faces investment claims in the proximity of 1 billion USD, arising out of investment dispute settlement cases.
Allegations of corruption and criminal activity have been used increasingly in recent years in French courts to argue for the setting aside of arbitral awards on the grounds of a breach of international public policy.
The Kyrgyz Republic has notified Stans that it filed a claim with the High Court of Justice to set aside the jurisdictional award rendered by the UNCITRAL Tribunal in favor of Stans.
The Paris Appeals Court annuled $16.5 million award for Latvian businessman Valeri Belokon and reinstated the evidence that Manas Bank employees were engaged in money laundering.
The Tribunal has unanimously rejected the Respondent’s preliminary jurisdictional objections and opened the way for adjudication of the merits.
India and Kyrgyzstan initiated talks to conclude a Bilateral Investment Treaty (BIT) that will seek to boost investments between the two nations and protect investors’ interests.
The Ontario Superior Court of Justice ruled that Centerra Gold shares are the property of Kyrgyzaltyn JSC not the Kyrgyz Republic.
Centerra Gold Inc.reports that it has delivered a notice of arbitration to the Kyrgyz Republic Government in connection with certain ongoing disputes relating to the Kumtor mining project.
The CIS Free Trade Agreement will come into effect for Kyrgyzstan on 12 January 2014, BelTA learnt from the legal department of the CIS Executive Committee.
Uzbekistan might join the free trade zone of the Commonwealth of Independent States by the end of May 2013, Director of the First Department of the CIS States of the Russian Foreign Ministry told reporters on 29 January before the start of ministerial consultations in the CIS Executive Committee, BelTA has learnt.