Summary

The Claimant applied to the Court to recognise and enforce an arbitral award issued by a sole arbitrator under the International Arbitration Centre of Kazakhstan, seeking recovery of a debt under a loan agreement and arbitration fees. The Court found the application justified and ordered payment of the awarded sums, while granting the Defendant the right to apply to set aside the order within 14 days and staying enforcement until that period expires or any such application is resolved.

Pursuant to a Claim Form made on 26 February 2025 the Claimant seeks an Order from this Court to recognise and enforce the measures set forth in para 79 of the IAC Arbitration Award dated 4 November 2024 made by Mr. Roman Zykov, the sole arbitrator appointed by a letter dated 4 April 2024 of Mr. Thomas Krümmel, the Chairman of the International Arbitration Centre of Kazakhstan, in IAC Arbitration Case No 7/2023.

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