LONDON, UNITED KINGDOM--(Marketwired - Mar 18, 2015) - The High Court in London today dismissed Alliance Bank's $300 million claim against Maksat Arip. The Court found that "Alliance has no prospect of succeeding in its claims", and as a result the claim was dismissed in its entirety.
As well as finding that Alliance's claim had no prospect of success, the Court also found that Alliance failed to comply with its duties to the Court and failed to present highly material documents to the judge when it brought its claim. The Court found that Alliance's failures were "significant".
Mr Arip has also been awarded his legal costs and Alliance were denied leave to appeal by the High Court.
Mr Arip will continue to vigorously defend his reputation and any claims brought against him.
This is the second litigation victory Mr Arip has achieved in 2015, in January he defeated Kazakhstan Kagazy's attempt to bring a new $300 million claim against him. Having dealt with Alliance's misconceived claims, Mr Arip now looks forward to similarly having the remainder of Kazakhstan Kagazy's case against him dismissed.
David Simonson / Jenny Payne
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