International arbitration on Ak-Keme hotel ends in favor of Kyrgyzstan

09:16, 28 ноября 2019, Bishkek - 24.kg news agency , Tatyana KUDRYAVTSEVA

Legal proceedings within Ak-Keme hotel case ended completely in favor of the Government of Kyrgyzstan. The Information Support Department of the Cabinet of Ministers of Kyrgyzstan reported.

A message about start of pre-trial proceedings for payment by the Government of $ 11.4 million to Sistem Muhendeslik within Ak-Keme hotel case was previously sent out. The Government believes: all statements that the Cabinet of Ministers did not have legal grounds for any pre-trial proceedings in this case are false and do not correspond to reality.

 «On December 29, 2016, the Ontario Court of Appeal ruled that shares of the Canadian company Centerra Gold Inc., held by Kyrgyzaltyn OJSC and, which were seized as collateral, are exclusively Kyrgyzaltyn OJSC assets and cannot be confiscated by parties with claims to Kyrgyzstan. On June 15, 2017, the Supreme Court of Canada made a final decision on the refusal to allow the appeal of Sistem Muhendeslik and the Turkish company Entes,» the Cabinet reminded.

State bodies have never transferred these funds to the accounts of any company. The funds were temporarily deposited on a special escrow account owned by Kyrgyzaltyn OJSC in Canada that was required by the terms of the trial launched in that country. In June-July 2017, all this money was fully returned to the state budget of Kyrgyzstan.

«We regret that the provocative statements are obviously intended to disseminate a false opinion about the allegedly unqualified actions of the Kyrgyz Government in society,» the Government said.