Samruk-Kazyna JSC succeeds in lifting the illegal attachment of Kashagan shares

Samruk-Kazyna JSC succeeds in lifting the illegal attachment of Kashagan shares

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17 June 2022

On June 14, 2022, the Court of Appeal of the Hague in the Netherlands rendered a final decision in the Fund’s long legal-standing proceedings against Anatole and Gabriel Stati and several of their companies. The Court of Appeal held that Samruk’s shares in KMG Kashagan B.V. enjoy immunity of enforcement and lifted the pre-judgment attachment levied by Stati in September 2017.

This decision, confirming the illegality and invalidity of seizing the property of Samruk-Kazyna JSC, restores the legal rights of the Fund in terms of independent ownership without any previously imposed restrictions, which is a fundamentally important victory not only for Samruk-Kazyna, but also for the Republic of Kazakhstan, whose interests are represented by the Ministry of Justice.

The court decision actually confirms the well-established status of Samruk-Kazyna as a sovereign fund of the Republic of Kazakhstan in the international arena.

CEO of Samruk-Kazyna Almasadam Satkaliyev commented on the decision of the court: “We welcome the decision of the Hague Court, which establishes the fact that the main goal and task of the Fund is to increase the national welfare of the people of the Republic of Kazakhstan.