AIFC Court and IAC participated in London International Disputes Week 2024
The AIFC Court and International Arbitration Centre (IAC) participated in the London International Disputes Week (LIDW) 2024. This event brought together top lawyers and company representatives from around the world, including the AIFC entities, recognized as leaders in their field, Kazinform News Agency reports.
This year, the LIDW united over 100 jurisdictions, with more than 7 000 legal experts travelling to London to participate in 150 events. Specialists engaged in discussions on complex issues, established partnerships, and exchanged experiences.
“This is a significant event, bringing together many lawyers from various regions including Kazakhstan, Latin America, Asia, and Africa. We are united by a common goal: to resolve international disputes, provide access to justice, and create a platform for collaboration. This event allows us to exchange ideas, make valuable contacts, and enhance our cooperative efforts in the field of international law,” says Artem Doudko, a board member of London International Disputes Week.
“Kazakh authorities have excelled in developing the AIFC, and we are pleased to have The Rt. Hon. The Lord Burnett of Maldon, Chief Justice of the AIFC Court, leading one of our sessions. The AIFC offers numerous opportunities for businesses not only within the CIS region but also globally,” added Khawar Qureshi, king’s counsel of McNair International.
The AIFC Court and IAC began its operations on 1 January 2018 and have successfully resolved and enforced more than 2 600 commercial cases to 100% satisfaction. The disputes involved a wide variety of commerce and investment related matters with investors from 28 countries.
All Judgments were enforced to 100% satisfaction within the entire territory of Kazakhstan applying the AIFC Court’s step by step enforcement procedure and without involvement of the Kazakhstan national courts.
Investors with business in Kazakhstan from 28 countries, including most Eurasian countries and other key Kazakhstan trading partners such as China, UAE, and India, used the AIFC Court to decide business disputes. 618 lawyers from 30 countries (34 jurisdictions), from 6 continents, registered with the AIFC Court for rights of audience to represent parties in cases at the AIFC Court.
“Our primary task is to explain how the AIFC Court and IAC function to benefit Kazakhstan and the broader Eurasian region. We have succeeded in this, and I’m pleased to report that we are increasingly recognized as world-class commercial dispute resolution centres, meeting the highest international standards. Moreover, investors are returning to Kazakhstan because they trust in our impartial and independent justice system,” said Christopher Campbell-Holt, registrar and chief executive of the AIFC Court and IAC.
“I participated in hearings for three cases at the AIFC Court, including cases against Kazakhstan's ministries. We successfully defended the interests of foreign investors. Previously, companies sought justice in London, Paris, or Singapore arbitrations, but now they can protect their interests right here at the AIFC Court in Astana,” said Gulnur Nurkeyeva, partner of the international law firm “Grata International”.
London International Disputes Week Limited was incorporated as a private company in 2019 and is run on a not-for-profit basis by the board and LIDW’s steering group. The members of the LIDW board and strategy group, and its various sub committees and working groups, are drawn from member firms and all are volunteers.
