PRESS RELEASE: Senators visited the AIFC Court and International Arbitration Centre
On 16 April the Committee ("Committee") on Constitutional Legislation, Judicial System and Law Enforcement Bodies of the Senate of the Parliament of the Republic of Kazakhstan, led by its Chairman Mr. Georgiy Kim, held their visiting session at the AIFC Court and IAC premises at EXPO-2017.
The Rt. Hon. The Lord Woolf CH, Chief Justice of the AIFC Court, welcomed the Senators and explained in detail how the AIFC Court operates, what jurisdiction it has, and clarified its regulations and rules. The second presentation was given by Ms. Barbara Dohmann QC, IAC Chairman, who explained the alternative methods of dispute resolution available at the IAC. Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC, described the enforcement procedures at the AIFC Court. The Senators also met with The Rt. Hon. Sir Jack Beatson FBA, Justice of the AIFC Court.
During the meeting the AIFC Court and IAC discussed with the Committee areas of further cooperation and mutual support. The Senators were interested in learning more about the application of the English common law within the AIFC. The meeting concluded with a short tour around the modern hearing rooms and lecture theatre of the AIFC Court and IAC.
The Rt. Hon. The Lord Woolf CH, Chief Justice of the AIFC Court, commented:
“We were delighted to host our distinguished guests from the Republic of Kazakhstan Senate’s Committee and to learn of their great interest in our AIFC Court and IAC. The Senate’s support and understanding will play an important role in our continued success and delivery of our vision for the AIFC Court and IAC to become the number one choice for dispute resolution in Eurasia.”
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 The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. 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)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 copy right. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. www.aifc-iac.kz