Magistrate Recommends $8.6M Sanctions Judgment Against Kyrgyzstan For Unpaid Award

Mealey's (September 6, 2022, 12:36 PM EDT) -- NEW YORK — A New York federal magistrate judge on Aug. 31 recommended that the court enter judgment on accumulated sanctions against the Kyrgyz Republic in the amount of $8,560,000, on top of a 2020 sanctions judgment for $2,265,000, citing “its long-standing defiance” of an arbitral award confirmed against it in 2016 for more than $11.6 million in favor of a Turkish investor whose hotel was expropriated....