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Supreme court makes decision on "Kazakhstan Investment Fund" JSC's case

Business Materials 14 July 2014 07:54 (UTC +04:00)
Kazakhstan's Supreme Court made the decision regarding the dispute between the "Kazakhstan Investment Fund" JSC (subsidiary of " National Managing Holding" Baiterek " JSC) and "Global Ecological Group Almaty" LLP, the press-service of "NMH "Baiterek" JSC said.
Supreme court makes decision on "Kazakhstan Investment Fund" JSC's case

Astana, Kazakhstan, July 14

By Daniyar Mukhtarov - Trend:

Kazakhstan's Supreme Court made the decision regarding the dispute between the "Kazakhstan Investment Fund" JSC (subsidiary of " National Managing Holding" Baiterek " JSC) and "Global Ecological Group Almaty" LLP, the press-service of "NMH "Baiterek" JSC said.

The report noted that the claims of "Global Ecological Group Almaty" LLP to "Kazakhstan Investment Fund" JSC was about the disputed rail lines, located in the logistics complex in the city of Almaty, owned by the JSC.

In turn, "Kazakhstan Investment Fund" JSC filed a supervisory appeal to the Supreme Court to cancel the earlier adopted court decisions and provisions in favor of "Global Ecological Group Almaty" LLP.

"The Supreme Court examining the supervisory appeal, canceled all previously adopted legal acts, namely: the decision of Specialized Interdistrict Economic Court of Almaty, and the decision of the Appeal and Cassation Board of the Almaty City Court, " the report said.

The report said that the Kazakh Supreme Court decided to cancel the decision on the elimination of obstacles to conduction of construction-installation work by the "Global Ecological Group Almaty" LLP at railway sidings, previously established on the territories belonging to "Kazakhstan Investment Fund" JSC.

"The Supreme Court also overturned the decision of the invalidation of the Supplementary Agreement to the immovables (railroad siding) of former logistic centers' owners, concluded with "Development Bank of Kazakhstan " JSC, " the report said.

As a result, the Supreme Court overturned all the above mentioned court decisions, while the claim of the "Global Ecological Group Almaty" was left without reviewing.

Edited by S.I.

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