---

Streamed English High Court case a digital first

An English High Court judge has ruled in favour of the Republic of Kazakhstan and the National Bank of Kazakhstan (NBK) at the end of an historic four-day digital trial.

The case was the first in the English High Court to be streamed live on YouTube, having been forced online by the Covid-19 restrictions.

Two Moldovan businessmen, Anatolie and Gabriel Stati have been involved in a long-running legal action to freeze more than $500m of cash held by NBK in the London branch of the Bank of New York Mellon (BNYM).

Accountable

Mr Justice Teare found that NBK could not be held accountable to the claims of the Statis, who are trying to enforce a $530m arbitration award against the Kazakhstan.

The country’s Ministry of Justice argues, however, that the award was obtained through fraud. The case is linked to a dispute over oil licences in the country.