US Court dismisses Kazakhstan’s impermissible collateral attack on US$500m SCC arbitration award

Dean Ehrlich -

On 29 August 2022, the Supreme Court of the State of New York granted Argentem Creek Partners’ motion to dismiss what the Court described as Kazakhstan’s “impermissible collateral attack” on a 2013 SCC Arbitration Institute Award that ordered the Republic to pay approximately US$500m in compensation to Tristan Oil’s owners following the illegal expropriation of their assets in 2010.