Kazakh Bank Buyout to End Biggest Legal Tussle of Post-Nazarbayev Era
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Kazakhstan challenges large asset transfer by ex-president s foundation
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But according to a statement by the prosecutor general's office, the company through which the foundation owned the bank transferred its shares to Jusan Technologies, a British company, in 2020, "endangering public interest". Jusan Technologies' parent company, Nevada-based Jysan Holding, in a separate statement on Thursday said it has filed a lawsuit in a federal district court in Nevada against the Kazakh government, accusing it "of engaging in a campaign of fear and intimidation in order to seize control of the companies' Kazakhstan-based assets worth more than $1.5 billion".
But according to a statement by the prosecutor general's office, the company through which the foundation owned the bank transferred its shares to Jusan Technologies, a British company, in 2020, "endangering public interest". Jusan Technologies' parent company, Nevada-based Jysan Holding, in a separate statement on Thursday said it has filed a lawsuit in a federal district court in Nevada against the Kazakh government, accusing it "of engaging in a campaign of fear and intimidation in order to seize control of the companies' Kazakhstan-based assets worth more than $1.5 billion".