Scandal with Liglass.Company threatens Kyrgyzstan with international arbitration
The company Liglass Trading threatens
It is noted that Liglass Trading hasn’t yet received a notification from
Recall, the government and the State Committee for Industry, Energy and Subsoil Use have repeatedly stressed that all disputes with the investor regarding the project will be decided exclusively in the courts of Kyrgyzstan. There is no question of any international arbitration. In addition, the official notice of termination of the contract of the company will be sent only today, as the deadline for payment of $ 37 million expired yesterday.
According to Article 7 of the investment agreement between the parties, in case of disputes, they have three months to negotiate. If the negotiations haven’t yielded results, the parties turn to the dispute settlement procedure. The party receiving the claim must consider it within three months and is obliged to notify the other party of its decision to accept the claim, discuss it or refuse to satisfy the claim. And the last instance is the resolution of disputes under the legislation of
