Dec 2, 2022Argentem Creek Partners — statement on re-election of President TokayevArgentem Creek Partners CEO Dan Chapman issued the following statement on the Republic of Kazakhstan’s recent presidential election: “I congratulate President Kassym-Jomart Tokayev on his successful re-election. President Tokayev has promised an ambitious reform program to bring about a ‘New Kazakhstan.’ As a U.S. investor with a keen interest in…Kazakhstan1 min readKazakhstan1 min read
Sep 16, 2022KAZAKHSTAN’S ALLEGATIONS AGAINST ARGENTEM CREEK PARTNERS DISMISSED AS “IMPERMISSIBLE COLLATERAL ATTACK” ON ARBITRATION AWARD29.08.2022 — The Supreme Court of the State of New York has granted a motion to dismiss a lawsuit filed by the Republic of Kazakhstan against Daniel Chapman and New York-based investment firm Argentem Creek Partners. In December 2013, a Swedish arbitral tribunal awarded the owners of Tristan Oil approximately…Tristangate3 min readTristangate3 min read
Jul 12, 2022HAGUE COURT OF APPEAL CANCELS ATTACHMENT OF SAMRUK-KAZYNA JSC’S SHARES IN KMG KASHAGAN BVThe Hague Court of Appeal cancelled the attachment of shares worth around $5.2 billion held by Kazakhstan’s sovereign wealth fund JSC Samruk-Kazyna in KMG Kashagan BV. The Hague Court of Appeal reversed its previous finding that the shares were not immune from attachment on the basis that they did not…Tristangate1 min readTristangate1 min read
Jul 12, 2022Tristangate at World Economic ForumThe Tristangate campaign has launched a new advertising initiative at the World Economic Forum’s annual summit in Davos to draw attention to Kazakhstan’s failure to settle the Tristangate dispute. Advertising billboards, digital advertising and flyers across Davos are bringing the dispute to the attention of delegates, including governments, business…Tristangate2 min readTristangate2 min read
Apr 8, 2022STATI PARTIES CHALLENGE BELGIAN COURT RULING IN DEFENSE OF TRISTANGATE AWARDMarch 31, 2022 The Stati Parties have filed an appeal against the November 16, 2021 Brussels Court of Appeal decision which upheld a challenge, brought by Kazakhstan, against the enforcement of the $544 million Energy Charter Treaty Award. …Tristangate2 min readTristangate2 min read
Feb 21, 2022NEW YORK DISTRICT COURT COMPELS ARBITRATION OF CLAIMS BY OUTRIDER MANAGEMENT AGAINST ARGENTEM CREEKA federal judge in New York on February 10 granted the Argentem parties motion to compel arbitration against plaintiff Outrider thereby dismissing them from Kazakhstan’s vexatious litigation against U.S. investors. The claim was part of Kazakhstan’s efforts to enlist Outrider in its efforts to obstruct payment of a $540m final…Tristangate2 min readTristangate2 min read
Feb 21, 2022ITALIAN SUPREME COURT DECISION MAKES TRISTANGATE AWARD FINAL BINDING & NON-APPEALABLEThe Supreme Court of Italy yesterday rejected an appeal brought by the Republic of Kazakhstan against recognition of the $544 million “Tristangate” Award on the grounds that it was procured by ‘fraud’. The Supreme Court of Italy upheld the earlier judgment of the Rome Court of Appeal handed down in…Tristangate2 min readTristangate2 min read
Feb 21, 2022No to Normal Trade Relations Until Kazakhstan Treats Tristan Bondholders FairlyAs Kazakhstan celebrated 30 years of diplomatic relations with the US, American investors demanded that Permanent Normal Trade Relations (PNTR) are denied until it treats investors fairly. On December 9, 2021, the US-Kazakhstan Business Council hosted senior US and Kazakhstani officials for an event commemorating the 30th Anniversary of diplomatic…Tristangate2 min readTristangate2 min read
Feb 15, 2022EIGHT YEARS SINCE KAZAKHSTAN ORDERED TO PAY TRISTANGATE AWARDDecember 20, 2021 Investors still await compensation as Kazakhstan continues to evade its international treaty obligations Eight years ago, on 19 December 2013, a Swedish arbitration tribunal found that the Republic of Kazakhstan had violated its obligations under the Energy Charter Treaty (ECT) and awarded Tristan Oil’s owners damages of…Tristangate2 min readTristangate2 min read
Feb 15, 2022$90 million Kazakh asset freeze upheld by Swedish Supreme CourtNovember 18, 2021 The Swedish Supreme Court today upheld a $90 million freeze on Kazakhstan National Fund’s assets in Sweden, marking a significant defeat for Kazakhstan in the long running “Tristangate” dispute. The court ruled that the seized assets representing part of Kazakh National Fund are not protected by sovereign…Tristangate2 min readTristangate2 min read
