Ambassador Extraordinary and Plenipotentiary of Georgia to the Republic of Kazakhstan, Mr. Nikoloz Laliasvili, visited the AIFC Court and IAC premises in Astana, Kazakhstan
Ambassador Extraordinary and Plenipotentiary of Georgia to the Republic of Kazakhstan, Mr. Nikoloz Laliasvili, visited the AIFC Court and IAC premises in Astana, Kazakhstan. During the visit, Mr. Christopher Campbell-Holt, the Registrar and Chief Executive of the AIFC Court and IAC, explained how the AIFC Court and IAC work in practice and the relevance of the services provided by the AIFC Court and IAC to investors from Georgia.
The AIFC Court and IAC have resolved 1,714 cases via litigation at the AIFC Court and arbitration and mediation at the IAC. All decisions have been enforced to 100% satisfaction of the parties. The parties in the disputes have come from 22 countries. Increased case volume involving Georgian investors is expected.
The AIFC Court and IAC are increasingly recognised as the premier commercial dispute resolution institutions in Eurasia.
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz
The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz/
The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. https://iac.aifc.kz/