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Assisting in enforcement of foreign judgement against state-owned conglomerate

Saturday, 11 May 2019

Kosta Legal arbitration experts have successfully assisted a renowned Swiss boutique law firm in enforcing a foreign arbitration award against a subsidiary of one of the largest Uzbek state-owned conglomerates.

Although recognition of foreign arbitration awards is not an outstanding matter in the context of global legal practice, in Uzbekistan, courts tend to re-open arbitration cases settled abroad and to re-examine them on their merits, especially if state-owned companies are involved. In this case, however, we upheld the position of the client and effectively prevented the court from re-assessing the case. Once the arbitration award was recognised, we assisted the client in its enforcement by tracing the counterparty’s assets and monitoring public auctions for the sale of seized property.