Dispute Resolution

Kosta Legal represents clients in complex commercial disputes, litigation and arbitration proceedings in Uzbekistan and across borders.Our Banking and Finance practice advises on domestic and cross-border financing transactions across a broad range of products. We act on bilateral and syndicated lending, corporate and acquisition finance, asset finance, financial leasing, trade and export finance, ECA-backed facilities and Islamic finance.

Our Dispute Resolution practice advises international and domestic clients on high-value and strategically significant disputes arising from commercial transactions, corporate relationships, investments, financing arrangements, construction projects and regulated activities.

We represent clients before the courts of Uzbekistan at all levels, including the Supreme Court, and work alongside international counsel in domestic and international arbitration proceedings. Our team advises from the earliest stages of a dispute, including risk assessment, pre-action strategy, settlement negotiations and interim measures, through to hearings, appeals and enforcement.

We also assist with the recognition and enforcement of foreign judgments and arbitral awards, insolvency and restructuring proceedings, asset recovery and challenges to regulatory and administrative decisions.

Capabilities

·         Commercial disputes

·         Corporate and shareholder disputes

·         Construction and infrastructure disputes

·         Investment and regulatory disputes

·         Domestic litigation and appellate proceedings

·         Mediation

·         International and domestic arbitration

·         Interim and protective measures

·         Recognition and enforcement of foreign judgments

·         Recognition and enforcement of arbitral awards

·         Insolvency and restructuring proceedings

·         Debt recovery and asset tracing

·         Settlement negotiations and dispute avoidance

Selected Experience

Leading global metals and mining group in connection with HKIAC arbitration proceedings and the recovery of advance payments from a counterparty holding assets in Uzbekistan. Our work included developing an asset preservation and enforcement strategy and securing recognition and enforcement of HKIAC interim measures before the Uzbek courts.

Leading Chinese construction machinery manufacturer in arbitration proceedings under the Rules of the Tashkent International Arbitration Centre arising out of a guarantee agreement.

Leading European livestock genetics organisation in VIAC arbitration proceedings against an Uzbek agricultural company, resulting in a favourable award. We subsequently advised on enforcement in Uzbekistan, asset tracing and the public auction of the debtor’s seized property.

Major South-East Asian conglomerate in an international arbitration arising from the termination by the Uzbek authorities of the client’s rights under a production sharing agreement.

International industrial manufacturer in the recognition and enforcement in Uzbekistan of an arbitral award rendered by the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation. We represented the client before the Uzbek courts, negotiated a settlement and secured full recovery of the outstanding amount.

International agricultural company in a complex commercial dispute arising from the non-performance of supply and services agreements. We developed the litigation strategy and represented the client before the Uzbek courts at all levels, including the Supreme Court.

International EPC contractor in a multi-party dispute arising from the implementation of a turnkey cement plant project. The matter involved allegations concerning construction quality and the use of project funds, multiple financing arrangements and the replacement of contractors during project implementation.

International export credit insurer, as principal creditor, in the liquidation of a major agricultural machinery supplier in Uzbekistan. Our work included disputes concerning the liability of controlling persons and transaction avoidance, as well as proceedings before the economic and criminal courts that resulted in the invalidation of sham transactions designed to dissipate the debtor’s assets.

Foreign financial institution in two complex proceedings arising from the insolvency of a foreign debtor. We protected the creditor’s interests and the insolvency estate, successfully challenged claims disputing the existence of the underlying debt and represented the client before the Uzbek courts, including the Supreme Court.

Project company operating a USD 2.5 billion gas chemical complex in a significant tax dispute with the Uzbek tax authorities concerning unpaid VAT.