PRESS RELEASE: AIFC Court Justice met with the Kazakhstan law communities in Almaty and Astana
On Monday 14 May 2018 Justice Jackson spoke at the AIFC Law Conference in Almaty which was attended by senior lawyers from Kazakhstan, Eurasian and international law firms, and national and international corporations based in Almaty.
Justice Jackson, a former Lord Justice of Appeal in the Court of Appeal of England and Wales, explained how lawyers and parties to a dispute can use the AIFC Court, how they can engage with its other activities and access its overall services. He explained that the AIFC Court has “opt-in” jurisdiction which enables any party, even parties that are not AIFC Participants or otherwise connected to the AIFC, to file a claim at the AIFC Court, provided that all of the parties to the dispute agree. Mr. Christopher Campbell-Holt, AIFC Court and IAC Registrar and Chief Executive, moderated the Law Conference and presented and answered questions on the IAC. Mr. Campbell-Holt commented:
“The IAC provides world-class arbitration and mediation services applying the highest and most up to date international standards to provide a credible alternative to parties who wish to resolve a commercial dispute outside of a more traditional Court setting. The procedures at the IAC provide maximum flexibility and cost efficiency which will be of particular interest to international investors who are considering investing in the AIFC and the Republic of Kazakhstan.”
Also this week, Justice Jackson gave lectures as apart of the “AIFC Court and IAC Distinguished Lectures Programme” to judges at the Republic of Kazakhstan Supreme Court in Astana.
Justice Jackson also gave lectures to law students at KIMEP University in Almaty and at Eurasian National University in Astana. The lectures informed audiences about a range of topics that are relevant to the AIFC Court, including about the AIFC Court itself, the English common law, Justice Jackson’s work over many years to reform the civil justice procedures in England and Wales to reduce delays and costs of litigation, and about law student mooting techniques.
Justice Jackson also presented and answered questions on the AIFC Court at a special event in Astana that was organized by the international law firm, Dentons, and he met lawyers and clients of that law firm at that event.
Justice Jackson commented:
“It was a real pleasure and privilege for me to meet so many Kazakhstan judges, lawyers, and students, in the course of this week. We have had many fruitful exchanges. Lawyers and law professors here have explained to me how the Kazakhstan legal system works. I am hugely impressed. I hope that our experiences in common law courts will be of interest and assistance to Kazakhstan lawyers and judges. The AIFC Court operates on the common law, but we are also mindful to take account of the beneficial aspects of Kazakhstan law. Lawyers from all jurisdictions have much to learn from talking to each other and visiting one another’s courts.”
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to any disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. www.aifc-court.kz
The AIFC International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled leading international practice. It has its own panel of world leading arbitrators and mediators comprising many years of arbitration and mediation experience in commercial law areas including oil and gas, trade, construction, energy, Islamic finance, banking, and copyright. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. www.aifc-iac.kz
The Astana Financial Services Authority (AFSA) is a legal entity and statutory body of the Republic of Kazakhstan, and was established in accordance with the Constitutional Law of the Republic of Kazakhstan "On the Astana International Financial Centre". AFSA is a regulator of both financial and non-financial services activities. It regulates Centre Participants carrying out financial and ancillary services and capital markets activities within the territory of the AIFC. AFSA is also the regulator of companies registered by the AFSA that carry out non-financial services activities. The governing body of AFSA is the Board of Directors headed by its Chairman. The AFSA Board of Directors oversees the Executive Body, carries out overall management, identifies strategic directions of the AFSA, adopts AFSA’s regulatory acts and within the AFSA’s competence exercises other powers established by resolutions of the AIFC Management Council and/or the AIFC Governor.