Who Allies with Akorda in the Stati Claim (Part1)26 Sep 2022 07:45
Who Allies with Akorda in the Stati Claim
During the first days of January, Kazakhstan’s Ministry of Justice had released information that the Kazakh authorities have now got an ally in the war against Moldovan investors Anatolie and Gabriel Stati. This ally is no other than the U.S. investment company Outrider Management. We have decided to learn more about the situation.
First, let is quote the press-release of Kazakhstan’s Ministry of Justice published in a number of mass-media.
«On December 31, 2020, the Outrider Management company joined the claim of the Republic of Kazakhstan against New York financier Daniel Chapman and the group of companies Argentem Creek (collectively called Chapman) owned and controlled by him. The claim is being reviewed by the New York court».
The Battle with the «Collective Chapman»
So, the «collective Chapman» (not to be confused with the spy of the same name famous for her «stylish» photo shoots) has become Kazakhstan’s new enemy having replaced the Statis in this role.
You will recall that the latter as the owners of Tolkynneftegaz and Kazpolmunai had been conducting their business in the West Kazakhstan but lost it as a result of the governmental hostile takeover, filed a claim against Kazakhstan and managed to win a 540 $ mln payout in the International Court of Arbitration. The Kazakh authorities had refused to pay. Because of this, the country’s foreign assets were arrested, this time, in the amount of billions. These assets included the equity stake in the «nation’s patrimony», namely, Kazakhstan’s share in the Kashagan oil project.
Daniel Chapman and Argentem Creek Partners had been funding Stati’ projects in Kazakhstan through securities issued by Tristan Oil Ltd and it was they that were to receive about 70% of the compensation amount awarded by the arbitration court. For a long time, Argentem Creek had remained at the backstage of this story, but now is has become the main force in the legal battle with the Kazakh Ministry of Justice.
In its turn, the Kazakh state agency has decided to solidify its position and open a «second front» having declared Outrider Management its ally.
«Declare» is the only word for it since all the public information about this company joining the claim of the Republic of Kazakhstan comes from the Kazakh Ministry of Justice. The company itself has made no announcement or issued no press-release on the subject. Its corporate website does not publish information on the matter; it operates exclusively as a portal for the clients of this firm. In other words, having researched the publicly accessible sources, we have found no proof that Outrider Management owns Tristan Oil Ldt’s securities.
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