The Ministry of Justice refutes media publications on another freeze of assets of the National fund of RK

On June 19, 2018 the Court of Appeal of England rendered a judgment in the case relating to the Bank of New York Mellon’s obligations (BNYM) pursuant to the provisions of custodial agreement between BNYM and the National Bank of Kazakhstan.

The Court of Appeal in England considered only a separate legal issue on whether BNYM is entitled to freeze assets located in England on the basis of a decision of the Belgian court.

At the same time, the assets of the National Fund in the amount of about USD 21.5 billion have already been released on the basis of the decision of the Court of First Instance in Brussels on May 25, 2018. All these funds have been transferred to accounts in other custodian banks.

To release USD 530 million, on 28 May this year the Republic of Kazakhstan and the National Bank initiated a new proceeding in the Commercial Court of England.

It should be noted that these proceedings do not affect the issue of payment to the Statis pursuant to the arbitration award, but only concern interim measures – attachment of assets.

The Ministry of Justice urges journalists to refer to the authorized body for an explanation of the situation prior to publishing unconfirmed information.