Kazakhstan won its challenge against a $55 million investment treaty award to a Canadian mining company. A London court highlighted serious irregularities in the original ruling, stating it failed to properly consider key aspects of Kazakhstan’s defense.
Kazakhstan has successfully challenged a London court’s ruling that required it to compensate a Canadian mining company over $55 million regarding an investment treaty award. The court identified significant irregularities in the initial award, particularly noting that it did not properly address the critical elements of Kazakhstan’s defense concerning damages. This ruling is a substantial development in Kazakhstan’s ongoing legal endeavors and investment arbitration landscape.
In conclusion, Kazakhstan’s victory in contesting the investment treaty award marks a significant milestone in its legal efforts. The recognition of procedural flaws by the London court underscores the complexity of investment disputes and the importance of a thorough examination of defense arguments in such cases.
Original Source: globalarbitrationreview.com
