Court of Canada has lifted freezing of all shares of Kyrgyzaltyn JSC in Centerra Gold Inc.
The shares were frozen as part of proceedings on recognition and enforcement of arbitral decisions against the Kyrgyz Republic at the expense of Kyrgyzaltyn assets. However, the Supreme Court of Ontario (Canada), having considered the petition of Kyrgyzaltyn JSC and taking into account the decision of the above mentioned court on the dispute dated July 11, 2016, decided to release 11,253, 655 shares and declared for the payment dividends.
The assets were frozen by the orders of the Court dated February 25, 2015 on claim of Valery Belokon (3,787,879 shares) and dated October 15, 2015 at the request of Entes Industrial Plants Constraction & Erection Constructing Co. Inc. (7,465,776 shares).
Currently, shares and dividends of Kyrgyzaltyn in Centerra Gold company are free from restrictions. (24.kg/Business World Magazine)