NUR-SULTAN — Arbitration of disputes with the participation of investors will now be transferred to the specialized inter-district economic court of Nur-Sultan. Kazakh President Kassym-Jomart Tokayev signed the law on the corresponding amendments on the modernization of the judicial system that will come into force on July 1, 2021.
Photo credits: inform.kz.
The law envisages that the consideration of disputes that involve investors will be transferred to the specialized inter-district economic court of Nur-Sultan.
Thus, the specialized inter-district economic court of Nur-Sultan will consider civil cases regarding investment disputes, except for cases within the jurisdiction of the specialized interdistrict administrative court of Nur-Sultan.
“The adoption of the law, taking into account the proposed approach to resolving disputes with the participation of investors, will have a positive impact on the national investment climate of Kazakhstan. In addition, the bill introduces clarifying amendments to the Administrative Procedure Code in connection with the creation and operation of new administrative inter-district courts,” according to the official documents.
The specialized inter-district economic court considers claims of state bodies against investors related to the investor’s investment activities, with the participation of a foreign legal entity carrying out entrepreneurial activity in Kazakhstan; a legal entity created with foreign participation in the manner prescribed by the Kazakhstan’s legislation; and investors in the presence of a concluded contract with the country for investment.
