American University of Central Asia, AIFC Court and Int’l Arbitration Centre sign framework agreement on coop

The agreement will provide AUCA students internship opportunities at the AIFC Court and IAC.

 

Today Kyrgyzstan-based American University of Central Asia (hereinafter – AUCA), and Kazakhstan-based the Astana International Financial Centre Court (the AIFC Court) and International Arbitration Centre (IAC) signed a framework agreement to expand their scope of cooperation and launch use of a new hearing room in Bishkek, Kyrgyzstan, the AIFC's official website reads.

 

The Agreement was signed by Mr. Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC, and Ms. Elida Nogoibaeva, Head of Law Division, Associate Professor of AUCA. The agreement creates opportunities for commercial parties in disputes to participate in AIFC Court and IAC hearings from an international standard hearing room at AUCA in Bishkek, Kyrgyzstan. The cooperation also enables students of AUCA to participate in internships at the AIFC Court and IAC, with the possibility of further employment at AIFC resident companies. In addition, students will participate in the AIFC Court and IAC legal education programmes and compete in the international standard Moot competitions organised annually in March and October.

 

In the framework of the visit to Bishkek, the AIFC Court and IAC met with the Kyrgyzstan legal and business communities and presented an introduction to commercial dispute resolution in the wider Eurasia region, services offered by the AIFC Court and IAC and further opportunities for businesses in the Kyrgyzstan seeking to invest in Kazakhstan.

 

Christopher Campbell-Holt, Registrar and Chief Executive of the AIFC Court and IAC commented:

 

 

References:

 

About AUCA:

 

AUCA is the first university in Central Asia to teach in the American liberal arts education system. It is ranked among the top ten universities in Central Asia according to the Quacquarelli Symonds (QS) rankings. The study programs are accredited in the USA in partnership with Bard College.

 

About the AIFC, the AIFC Court and the IAC:

 

The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz

 

The AIFC Court is an independent legal entity. It has its own procedural rules modelled on English common law procedures and leading international practice. The AIFC Court is separate and independent from the courts of the Republic of Kazakhstan. It consists of two tiers: a Court of First Instance, which includes a specialist division known as the Small Claims Court; and a Court of Appeal. It has exclusive jurisdiction over disputes arising out of the activities and operations of the AIFC and jurisdiction in the case of other disputes in which all parties agree in writing to give the AIFC Court jurisdiction. It does not have jurisdiction in relation to disputes that are of a criminal or administrative nature. It applies the most up to date and efficient case management practices. https://court.aifc.kz/

 

The International Arbitration Centre (IAC) is an independent legal entity. It has its own procedural rules modelled on best international practice. It has its own panel of leading international arbitrators and mediators having many years of arbitration and mediation experience in commercial law, including oil and gas, trade, construction, energy, financial services, banking, Islamic finance, insurance, and intellectual property. IAC arbitration awards are recognised and enforceable in Kazakhstan and internationally. https://iac.aifc.kz/

Source: kazinform