The AIFC Court held three case hearings before the Rt. Hon. The Lord Mance, the Chief Justice of the AIFC Court, at its premises in Astana, on 17 May 2023
The AIFC Court held three case hearings before the Rt. Hon. The Lord Mance, the Chief Justice of the AIFC Court, at its premises in Astana, on 17 May 2023: AIFC Court Case Nos. 31 and 32 of 2022 (re invalidation of a contract), AIFC Court Case No. 2 of 2023 (re recognition and enforcement of foreign court judgments at the AIFC Court), and AIFC Court Case No. 6 of 2023 (re debt payment). Judgments in these cases will be accessible via the AIFC Court website in English, Russian, and Kazakh languages.
The AIFC Court has given 57 Judgments since it commenced operations on 1 January 2018. All of the Judgments have been enforced, including seven Judgments in which the AIFC Court decided against the State of Kazakhstan. Case numbers at the AIFC Court continue to increase significantly as the AIFC Court continues to gain trust and confidence with investors coming to Kazakhstan. The AIFC Court is the stand alone premier international commercial court 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/