Luxembourg court refuses to confirm attachments obtained by the Statis until full investigation by criminal authorities

The Ministry of Justice of Kazakhstan secured an important victory in the court proceedings against Anatolie Stati, Gabriel Stati, Ascom S.A., and Terra Raf Trans Traiding Ltd. ("Stati Parties"). On 8 January 2021, the District Court of Luxembourg stayed the Statis’ request to validate the attachments obtained in 2017. The court followed Kazakhstan’s petition and decided to stay the proceedings until the full examination of the fraud has been carried out by the Luxembourg investigative authorities. Criminal investigations have been initiated and are currently ongoing in Luxembourg. After...