Посты с тэгом: AIFC Court

On September 9, the Rt. Hon. The Lord Woolf CH, Chief Justice of the AIFC Court, officially presented his book “A Vision of the AIFC Court” at a special launch at the AIFC Court to the legal and business communities in Nur-Sultan, Kazakhstan. The book was edited by Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and International Arbitration Centre.

The book follows the successful launch of the AIFC Court in 2018 and portrays the significance of its creation as the first common law court in the Republic of Kazakhstan and Eurasia that is modelled on the principles and procedures of the courts of England and Wales to resolve commercial disputes. The book describes the establishment of the AIFC Court and describes its vision for the future as a leading commercial court that will contribute to the enhancement of Kazakhstan as an investment hub for Eurasia. The book is available in three languages: English, Kazakh and Russian.

It adopts a chronological approach and is divided into two parts. In Part 1 Lord Woolf considers the establishment of the AIFC Court following the First President of the Republic of Kazakhstan – Elbasy’s initiative in 2015 to its official launch in 2018. In Part 2 he describes the AIFC Court’s international focus. The book also includes the AIFC Court Regulations 2017 and the AIFC Court Rules 2018 which provide the processes and procedures of the AIFC Court.

At the book launch Lord Woolf shared his vision of the AIFC Court and commented upon its achievements. All guests had an opportunity to receive a signed copy of the book.

Dr. Miras Daulenov, Provost of the M. Narikbayev KAZGUU University, commented:

“This book is a sequenced and lucid explanation of how the AIFC Court operates, what its jurisdiction is, and why it was established. “A Vision of the AIFC Court” is recommended to understand the Court, its authority, and mission.”

Mrs. Sofiya Zhylkaidarova, Managing Partner, Signum Law Firm, stated:

“The AIFC Court with its reputable and experienced judges is a fundamental step to raise Kazakhstan’s voice for justice and fairness, sustainable development, and integrity.”

This book is the first in a series of books the AIFC Court and IAC will publish in the coming years.

Reference:

AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets. https://aifc.zuweb.co

The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. 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 any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. www.aifc-court.kz

The AIFC International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled leading international practice. It has its own panel of world leading arbitrators and mediators comprising many years of arbitration and mediation experience in commercial law areas including oil and gas, trade, construction, energy, Islamic finance, banking, and copy right. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally.

The signing ceremony was organised in the framework of a joint roundtable within the Astana Finance Days. The roundtable was opened by Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC, with contributions from The Rt. Hon. The Lord Woolf CH, AIFC Court Chief Justice, Barbara Dohmann QC, IAC Chairman, H.E. Sven-Olov Carlsson, Ambassador, Head of the EU Delegation to Kazakhstan and EUROBAK Honorary Board Member, and Julie Kussidi, EUROBAK Executive Director.

Ms. Kussidi commented:

“Considering the importance of the AIFC Court and International Arbitration Centre it is a great honour for the European Business Association of Kazakhstan to sign these Memoranda of Understanding. We believe in our continued cooperation in the future.”

Mr. Campbell-Holt added:

“The AIFC Court and IAC have successfully cooperated with EUROBAK for some time and we are delighted that we have now agreed MOUs which will further our cooperation for the future. European investors can be assured that they will receive dispute resolution at the AIFC of the very highest quality with application of the best international standards.”

At the roundtable, senior representatives of European companies and diplomatic missions had the opportunity to learn more about the AIFC Court and IAC and how to use their services.

EUROBAK is a non-commercial organisation representing the European business community in Kazakhstan. It was formed upon the joint initiative of EU companies, working and investing in Kazakhstan, and the Delegation of the European Union to Kazakhstan.

Reference:

AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. https://aifc.kz/

The AIFC Court. 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 any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices.

The International Arbitration Centre (IAC). 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.

The European Business Association of Kazakhstan (EUROBAK). The European Business Association of Kazakhstan (EUROBAK) was established in 1999 upon the joint initiative of EU companies and the Delegation of the European Union. It is a non-commercial organisation. EUROBAK Membership is made up of more than 145 companies, including leading global, European and Kazakhstani companies, as well as Diplomatic Missions from Europe and other countries. EUROBAK plays a key role in promoting and nurturing mutual understanding between Kazakhstan and the countries of the European Union in business as well as social spheres. Nowadays EUROBAK is one of leading associations in Kazakhstan. http://www.eurobak.kz/