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Scandal with Liglass. Officials change mind and sit down at negotiating table

It became known that the scandal with Liglass Trading didn’t come to the end. Negotiations are currently taking place between the Kyrgyz government and the Czech company. This is reported on the official website of Liglass Trading.

It is noted that Liglass Trading took part in the negotiations. They took place on October 5, 2017 in the State Committee of Industry, Energy and Subsoil Use with the participation of representatives of the department, the government’s office and Liglass Trading itself.

Company Liglass Trading CZ s.r.o. hereby expresses its gratitude to the Kyrgyz side for its organization.

Statement of Liglass Trading

«We welcome the fact that the Kyrgyz side is in compliance with the terms of the agreement and acts in accordance with Article 7 of the investment agreement. During the talks, the range of disputes between the parties was discussed. A list of these issues will be indicated in the protocol of negotiations. During the talks, there were proposals that, at the request of the Kyrgyz side, would be sent to it in written form,» the Czech company said in a statement.

So, on the basis of an agreement reached during negotiations, the company Liglass Trading CZ s.r.o. sent to Kyrgyzstan its proposals on the creation of a working group «to resolve the situation that arose at the beginning of the implementation of the investment agreement,» options for the place and time for further negotiations on providing confirmation of financial solvency and payment of $ 37 million.

Liglass Trading also has its own vision of resolving the issue with the return of the retained guarantee fee for small hydropower plants, the decision on RusHydro’s application for international arbitration and the resolution of the problem of force majeure circumstances.

«The Kyrgyz side, in the person of the Chairman of the State Committee for Economic Cooperation and Development, proposed  Liglass Trading to prepare proposals for a draft additional agreement to the investment agreement. The draft additional agreement will be prepared within 10 days. In subsequent negotiations, we propose to discuss these proposals. An additional agreement will contain a solution to the issues discussed. The company Liglass Trading CZ s.r.o. notes that it is ready to fulfill all the obligations taken under the Investment agreement in its entirety,» the representatives of the Czech investor conclude.

At the end of September, 2017, it became known that the Kyrgyz government had terminated the agreement with the Czech company Liglass Trading. The company didn’t pay the promised $ 37 million. The Cabinet in response has decided to cease any relations with the Czechs. Investors themselves threatened officials with trials in international courts.