MWP continues to advise the Assaubayev Family on the transactions and settlement with Polyus Gold and KazakhGold
MWP continues to advise the Assaubayev Family on the transactions and settlement with Polyus Gold and KazakhGold
As previously announced, MWP has been advising the Assaubayev Family and their various entities, with whom MWP has relations dating back to 2001, in respect of the disputes and transactions with Polyus Gold, KazakhGold and their affiliates.
Accordingly, MWP is pleased to now announce that through its work, together with others, on 11 April 2011 a Restated and Amended Principal Agreement, as well as a Settlement Deed were signed in connection with the purchase by the Assaubayev Family of certain gold mines and assets in Kazakhstan, Kyrgyzastan and Romania and relating to certain debt for +/- US$800m, as to the reverse take-over by Polyus of KazakhGold through the injections of its Russian gold mining assets, and whereby all proceedings brought by KazakhGold and its affiliates against members of the Assaubayev Family in London, BVI, Jersey, Guernsey and Switzerland, and all and any other claims were to be settled and all freezing, disclosure and other orders to be released, subject to certain conditions, including Governmental consents.
MWP is happy to announce that on 16 May 2011 all of the conditions to the Settlement Deed were satisfied
MWP team was led by Michael Wilson in Almaty, Kazakhstan supported by senior associates Marko Radosavljevic in London, Larissa Orlova in Vancouver, Valery Chechulin and Richard Chudzynski (both in Almaty). Commenting on the deal, Michael Wilson said:
"This was a highly complex transaction, as it involved numerous, parties and numerous issues in many jurisdictions. We are delighted that MWP was able to achieve such a positive result for the Assaubayev Family given our relationship going back to 2001, and that our capabilities, teamwork and expertise made such a unique and significant contribution to finally engineering and achieving the implementation of the transactions settlement. However, it is not yet the time to wind- down, as much still needs to be done to reach a successful final closing".
As previously announced, MWP has been advising the Assaubayev Family and their various entities, with whom MWP has relations dating back to 2001, in respect of the disputes and transactions with Polyus Gold, KazakhGold and their affiliates.
Accordingly, MWP is pleased to now announce that through its work, together with others, on 11 April 2011 a Restated and Amended Principal Agreement, as well as a Settlement Deed were signed in connection with the purchase by the Assaubayev Family of certain gold mines and assets in Kazakhstan, Kyrgyzastan and Romania and relating to certain debt for +/- US$800m, as to the reverse take-over by Polyus of KazakhGold through the injections of its Russian gold mining assets, and whereby all proceedings brought by KazakhGold and its affiliates against members of the Assaubayev Family in London, BVI, Jersey, Guernsey and Switzerland, and all and any other claims were to be settled and all freezing, disclosure and other orders to be released, subject to certain conditions, including Governmental consents.
MWP is happy to announce that on 16 May 2011 all of the conditions to the Settlement Deed were satisfied
MWP team was led by Michael Wilson in Almaty, Kazakhstan supported by senior associates Marko Radosavljevic in London, Larissa Orlova in Vancouver, Valery Chechulin and Richard Chudzynski (both in Almaty). Commenting on the deal, Michael Wilson said:
"This was a highly complex transaction, as it involved numerous, parties and numerous issues in many jurisdictions. We are delighted that MWP was able to achieve such a positive result for the Assaubayev Family given our relationship going back to 2001, and that our capabilities, teamwork and expertise made such a unique and significant contribution to finally engineering and achieving the implementation of the transactions settlement. However, it is not yet the time to wind- down, as much still needs to be done to reach a successful final closing".