Kazakhstan’s Supreme Court Restores Investor’s Rights After Decade-Long Fight
After a decade-long legal battle, foreign investor Cornelia Luk-Yarchik has secured justice in Kazakhstan. The supreme court ruled that transactions involving her mining investment violated subsoil use legislation, with the decision entering into legal force immediately.
Luk-Yarchik's journey began in 2014 when she invested in the Bolshoy Kitay manganese and iron ore deposit. However, in 2015, the new owners of INDJAZ LLP, using forged documents, unlawfully terminated her contract and obtained a mining license. Berkut Maynin, appointed as director, sold off 80% of the company's stake.
Luk-Yarchik and her lawyer, Tolkyn Abilova, fought tirelessly to restore her rights. They proved through forensic handwriting analysis that the signature on the power of attorney was falsified. The general's office intervened, submitting a formal request to initiate legal action in Luk-Yarchik's favor. President Kassym-Jomart Tokayev's 'prosecutorial filter' mechanism, aimed at preventing such violations, played a crucial role in this process.
The supreme court's decision marks a significant victory for Luk-Yarchik, who has fought relentlessly for a decade. It also sends a strong message to investors that Kazakhstan is committed to protecting their rights, as demonstrated by President Tokayev's initiatives and the general's office's intervention.
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