Kyryg can get their dividends from centerra shares It seems like they think they can change the arbitration ruling just show boating or do they know more than their letting on....
Ministry of Justice: KR will continue to receive dividends from shares in Centerra arrested
12.16.14 11:50
Anna Yalovkina
Kyrgyzstan will continue to receive dividends from shares arrested in Centerra Gold Inc. On this day, December 16, the Minister of Justice Almambet Shykmamatov.
Recall, the Supreme Court of Ontario has seized 47 million shares of "Kyrgyzaltyn" in Centerra Gold Inc. at the suit of Stans Energy. The court banned Kyrgyzstan and JSC "Kyrgyzaltyn" to conclude the sale, disposal, exchange, assignment, transfer, pledge or encumbrance of shares in the company Centerra Gold Inc., owned by "Kyrgyzaltyn".
Kumtor. Never-ending story 5
According to the Minister of Justice, the arrest does not involve a ban on the receipt of income from shares. "It's like a mortgaged property - we can not sell them or something in a different way to dispose of them, but the dividends will continue to do", - assured the official.
According to him, government-hired lawyers appeal against the decision of the arbitration Arbitration Court at the Chamber of Commerce (CCI) of Moscow, on the basis of which the Ontario Court of arresting action "Kyrgyzaltyn". "There is already a decision of the Economic Court of Minsk, who confirmed that the Court at the Chamber of Commerce of Moscow had no rights and jurisdiction to consider this argument, since the decisions of this kind should be considered in the international courts. Imagine if the arbitral tribunal in Kyrgyzstan will receive international accreditation and consider the dispute between ECOS and Russia. Similarly, the Moscow Arbitration Court can not consider sports Kyrgyz government and companies Stans Energy ", - explained the Minister.
The official assured that Kyrgyzstan will be able to prove the illegality of the arbitration proceedings in Moscow, and hence the illegality of his decision. "Then remove the Ontario Court arrest sanctions", - assured Shykmamatov.