Hillmont Partners and Astraea have advised on a settlement between the Stati Parties and the Republic of Kazakhstan in a dispute concerning a 2013 USD 500 million SCC Award, bringing all related litigation to an end.
The Stati Case commenced in 2010 when the Stockholm Chamber of Commerce initially considered a claim filed by a consortium of companies owned by Moldovan businessman Anatol Stati and his son Gabriel against the Kazakh government for the unlawful seizure of their business interests. In December 2013, the arbitration tribunal issued a ruling in favor of the Stati parties, demanding that Kazakhstan pay USD 500 million in damages, along with associated legal expenses. However, the Kazakh government declined to honor this ruling.
According to Astraea, the agreement concludes a three-year enforcement battle with litigation linked to the case now terminated.
The Hillmont Partners team included Managing Partner James Hart.
