Press release Ministry of Justice - Kazakhstan won the arbitration against KT Asia Investment Group BV - 21 October 2013
On 17 October 2013 arbitral tribunal of the International Centre for the Settlement of Investment Disputes (ICSID) issued an award in favour of Kazakhstan in the claim brought by KT Asia Investment Group B.V. (KT Asia).
The amount of claims was 1.5 billion US dollars. Arbitration was initiated in 2009 based on the provisions of the ICSID Convention and Agreement on encouragement and reciprocal protection of investments between the Republic of Kazakhstan and the Kingdom of the Netherlands.
Award on TDM here: KT Asia Investment Group BV v Kazakhstan - ICSID Case No. ARB/09/8 - Award of the Tribunal - 17 October 2013