Sistem Muhendislik Insaat Sanayi Ve Ticaret, A.S. v. The Kyrgyz Republic

  1. November 04, 2024

    Turkish Co. Asks To End Sanctions As Kyrgyzstan Settles Suit

    Kyrgyzstan has agreed to a settlement deal that resolves a Turkish company's suit to confirm an $11.6 million arbitral award it won after being forcibly ejected from its hotel project in the capital city of Bishkek, the company has told a New York federal judge.

  2. October 07, 2022

    Kyrgyzstan Ordered To Pay $8.6M In Discovery Sanctions

    A New York federal judge has ruled that Kyrgyzstan must pay nearly $8.6 million in sanctions for ignoring discovery orders in a Turkish company's suit to confirm an $11.6 million arbitral award it won after being forcibly booted from its hotel in the capital city of Bishkek.

  3. May 06, 2022

    Kyrgyzstan Owes $11M Sanction For Arbitral Dodge, Co. Says

    A Turkish company that's been chasing Kyrgyzstan for years over an outstanding $11.6 million arbitral award it won after being forcibly booted from its four-star hotel in the capital city of Bishkek said Friday that the former Soviet state now owes nearly that much in sanctions as well.

  4. January 06, 2021

    Federal Judge Triples Damages Kyrgyzstan Must Pay Firm

    A New York federal judge has ordered Kyrgyzstan to triple its daily payouts to a Turkish hotel investment company due to the country's "vexatious conduct" in their real estate spat, adopting a magistrate judge's November recommendation.

  5. November 05, 2020

    Judge Recommends Kyrgyzstan Pay Triple Daily Sanctions

    A New York federal magistrate judge recommended Thursday to triple the daily payouts Kyrgyzstan must make to a Turkish hotel investment company, calling the "total failure" to pay most of its $11.6 million sanction for the past two years "egregious" and "staggering."

  6. July 21, 2020

    Investor Seeks To Triple Daily Sanctions Against Kyrgyzstan

    A Turkish investor has asked a New York federal judge to triple daily $5,000 sanctions against Kyrgyzstan, saying the country has made "precisely zero progress" toward fulfilling an $11.6 million arbitral award for seizing the company's luxury hotel in 2005.

  7. February 26, 2020

    Kyrgyzstan Hit With Sanctions In $11.6M Arbitral Award Fight

    A New York federal judge has slapped Kyrgyzstan with contempt sanctions of about $2.3 million related to its refusal to pay an $11.6 million judgment related to a Turkish investor's arbitral award against the republic for forcibly taking over its hotel.

  8. August 09, 2019

    Turkish Co. Slams Kyrgyzstan Bid To Nix Sanctions Award

    A Turkish hotel investor has urged a New York federal court not to drop contempt sanctions levied against the Kyrgyz Republic related to an arbitration award, arguing the court should instead increase the sanctions to $10,000 from $5,000 per day because the country still isn't paying up.

  9. June 28, 2019

    Kyrgyzstan Wants Turkish Co.'s Sanctions Award Tossed

    Kyrgyzstan urged a New York federal court Friday to set aside a Turkish hotel investor's contempt sanctions against it, saying the country has won an arbitration award against the investor in an amount exceeding the sanctions award.

  10. November 01, 2018

    Kyrgyzstan Faces Penalties In Turkish Co.'s Arbitration Suit

    A New York federal judge has ordered the Kyrgyz Republic to pay $5,000 per day in contempt sanctions to a Turkish hotel investor until it starts following discovery orders for an $8.5 million arbitration award won by the investor based on claims that the country colluded against it.