Turkish Hotel Company, Kyrgyz Republic Settle Decades-Old Hotel Dispute

Mealey's ( November 5, 2024, 11:47 AM EST) -- NEW YORK — A Turkish hotel investor filed notice in New York court that it has entered into a settlement agreement with the Kyrgyz Republic resolving a long-running dispute over the expropriation of the investor’s interests in a hotel and moved the court to suspend accrual of civil contempt sanctions for which judgment was previously entered for nearly $11 million, on top of a previously confirmed $11.6 million arbitral award....