The claimants have been granted an extended freezing injunction against Mr Arip’s worldwide assets for the full judgment sum of $315,000,000.
In his judgment, Mr Justice Picken noted that:
“This is a case which saw Mr Arip and Ms Dikhanbayeva engage in prolonged and major fraud involving substantial amounts of money, and which entailed Mr Arip and Ms Dikhanbayeva (along with a succession of witnesses called by them) giving evidence to the Court which was profoundly dishonest and consistently so.” [para 96]
“…the Claimants won at trial on almost every point of substance in a lengthy and fully contested action.” [para 96]
Tomas Mateos Werner, CEO of Kazakhstan Kagazy PLC, commented:
"We are very pleased that the London High Court has confirmed our claims. We were superbly supported by our legal team – Robert Howe QC, Jonathan Miller, Daniel Saoul and Allen & Overy (led by Mona Vaswani).
We are grateful to our creditors for their patience and support during this case and are delighted to now be one major step closer to returning the funds to Kazakhstan.
I am immensely proud that we achieved this success while managing the business through a severe currency crisis; turning around a highly indebted and loss-making operation into one that is efficient and now Central Asia's leading packaging & recycling company."
Link to judgment – www.bailii.org/ew/cases/EWHC/Comm/2018/369.html
For further information please contact:
General Counsel, Kazakhstan Kagazy PLC