KyrgyzAltyn" frees arrested dividends from shares in Centerr KyrgyzAltyn" frees arrested dividends from shares in Centerra
09/24/14 14:19
Nazgul Begalieva
JSC "KyrgyzAltyn" unfroze dividends from its stake in Canadian gold mining company Centerra Gold Inc., arrested by the Ontario Court in favor of the Turkish company - the former owner of the hotel "Pinara." On this day, September 24, "WB" said the deputy chairman of the company Kylychbek Shakira.
According to him, "KyrgyzAltyn" pursuant to the decision of the court of Ontario set to neutral through a licensed escrow company in Canada is $ 11 million 412 thousand.
"Today arrested dividends unfrozen, and we are working on a process to release the frozen shares," - said Shakira.
He added that "KyrgyzAltyn" to protect their dividends and shares in Centerra, appealed the judgment of the Ontario 15 April 2014 on the implementation of decisions of the 2009 ICSID against KR due to its shares and dividends Centerra. "But, under Canadian law, the court's decision, despite the appeal, must be enforced. Consequently, until the completion of trials we had to put on the decision of the court of Ontario an amount of $ 11 million 412 thousand. At neutral score. Toronto by the Ontario Court October 29, 2014 scheduled to consider our appeal, following which it will be decided whether it is possible to recover the debt of Kyrgyzstan and from the assets of "KyrgyzAltyn" in Toronto, "- said the deputy chairman of the Board of.
Note that the annual budget of the state receives about $ 12 million in dividends from shares of Kyrgyzstan in Centerra.
Recall that in the last year of the dividend Kyrgyzstan from Centerra Gold was arrested Ontario court decision in favor of the Turkish company that won a lawsuit in the International Court of Arbitration of the Government of the Kyrgyz Republic in the case of the hotel "Pinara Bishkek." JSC "KyrgyzAltyn" has not received required $ 3 million dividend for the I quarter of 2013 from a Canadian gold mining company Centerra Gold Inc. Part of the funds, the amount of which was not disclosed, was arrested by the Supreme Court of Ontario (Canada) in favor of the Turkish company Sistem Muhendislik Insaat Sanayi ve Ticaret AS