RE:Their news service is back . he Moscow Arbitration Court postponed the case on February 17 Kutessae
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8 January 2015 18:00
Nazgul Begaliyev
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The Moscow Arbitration Court postponed consideration of an appeal in the case of Kyrgyzstan Stans Energy Corp. February 17. On this day, January 8, "WB" said the director of the Center of legal representation of the Government of the Kyrgyz Republic Timur Shambet.
"At the last meeting of the Court of the Kyrgyz government to present additional evidence substantiation of the claim of the company. However, the defendant asked for more time to review these documents. The court granted the defendant. The meeting was postponed to mid-February," - he said.
Shaimbetov added that before the verdict the Moscow Arbitration Court of the Kyrgyz Republic shares in Centerra Gold Inc. remain under arrest. "If the arbitral tribunal shall decide in our favor, on the basis of this document we will provide a statement to the Supreme Court of Ontario to lift the attachment to our shares," - said the official.
Note, previously the government of Kyrgyzstan on the basis of the decision of the Economic Court appealed the verdict of the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation in the case of Stans Energy Corp. the Arbitration Court of Moscow. Interests Kyrgyzstan Law Firm represents "Satarov, Askarov and partners."
June 30 last year, the International Court of Arbitration in its decision ordered the government of Kyrgyzstan to pay Stans Energy Corp. $ 118.2 million for the cancellation of the license for the deposit Kutessay. The Kyrgyz government, in turn, announced its intention to appeal the decision . But in October of the same year the CIS Economic Court upheld Kyrgyzstan two arbitrations , in particular, the decision stated that the CD substantiated that suits Stans Energy and Korean investor John Lee Baca had no right to submit to arbitration in Moscow.
Earlier, on 14 October, the Supreme Court of Ontario (Canada) seized 47 million shares of "Kyrgyzaltyn" (state share 100%) in the Canadian gold mining company Centerra Gold Inc. at the request of the Canadian mining company Stans Energy Corp. Kyrgyzstan and the court decision "Kyrgyzaltyn" prohibited to sell, dispose of, exchange, assign and pledge encumbrance 47 million shares in the company Centerra Gold, registered in the "Kyrgyzaltyn". Shares of "Kyrgyzaltyn" arrested for Stans Energy Corp. could get from the CD enforceable amount of $ 118 million.
Reference
In January 2013 the Prosecutor General of Kyrgyzstan opened a criminal case for the extension of the agreement with Kutesay Mining, despite the failure to fulfill license obligations in 2010 and 2011. Later, the case was referred to the inter-district court in Bishkek, which on March 19 upheld the position of the Prosecutor General and acknowledged renewal is illegal.
In Kutesay Mining reported that the Prosecutor General's Office believe all the claims unfounded, as in 2010-2011, the company has not complied with the stated amounts of work due to force majeure, which were caused by the events of April 2010, when the country ran President Kurmanbek Bakiyev, and the work of all state bodies was paralyzed. In Kutesay Mining noted that two years all mining companies in the State Geology Agency did not coordinate the work plan and did not take reports.
Stans Energy Corp. Kutesay Mining acquired in 2009 along with two licenses for the development of mineral deposits Kutessay II (rare earth metals, bismuth, molybdenum and silver) and Kalesay (beryllium, lead) until 2029 for $ 1 million.