The legal row between Stati, his son Gabriel, two family-controlled companies and the Republic of Kazakhstan has dragged on for years in various courts.
An ICSID Arbitral Tribunal ordered Kazakhstan to pay Caratube USD 39.2 million in damages, plus USD 1,207,757.44, and well over 10 million USD in interest.
The dispute is based on the Energy Charter Treaty (ECT) and was initiated by Moldovan businessman Anatole Stati, his son Gabriel Stati and two companies owned by them.
The Svea Court of Appeal rejected the Republic of Kazakhstan’s request to declare invalid or set aside the arbitral award in Stati v Kazakhstan. The judgment cannot be appealed.
Eligible Canadian investors with property confiscated by the government of Kazakhstan are now legally entitled to international arbitration under the Canada/USSR BIT.
On 5 June 2012 the arbitral tribunal of the International Centre for Settlement of Investment Disputes (ICSID) adopted the decision on the case initiated by Caratube International Oil Company LLP (CIOC) against the Republic of Kazakhstan.