Accounts of the Kazakh Novodzhambul Phosphorus Plant (NDFZ) LLP, controlled by the sons of former Majilis Speaker Nurlan Nigmatulin, Nurkhan and Nurzhan, have been seized in Russia.
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For reference: NDFZ is a chemical plant producing yellow phosphorus and phosphorus-containing products. The enterprise is part of the Kazphosphate structure; as of 2023, it was controlled by Nurkhan and Nurzhan Nigmatulin through the company CAF Holding Ltd.
According to media reports, the Arbitration Court of the Kemerovo Region of the Russian Federation granted the petitions of Novokuznetsk-based Mining Company LLC against NDFZ LLP in two lawsuits.
It is reported that NDFZ failed to fulfil its obligations under a contract with the Russian company, which the Kazakh plant signed in September 2023. In the first lawsuit, the Mining Company demanded 190.1 million rubles from NDFZ LLP, and in the second, 513.2 million rubles.
In addition to satisfying the lawsuits, the Arbitration Court of the Kemerovo Region also seized the accounts of NDFZ LLP in Kazakhstan's Halyk Bank and Russia's Moskommertsbank.
At the same time, it is reported that, according to the Ministry of Justice of the Republic of Kazakhstan, enforcement proceedings are currently underway against the company for 665 million 496.2 thousand tenge. Incidentally, in 2023 the plant paid taxes totalling more than 893.4 million tenge.
Some experts are concerned that, because NDFZ is part of the Kazphosphate structure, the seizure of the plant's accounts could lead to price increases for chemical fertilisers containing phosphorus, and consequently, for certain types of agricultural products, in the future.