In the Zhambyl region, land plots that were previously illegally transferred to a company linked to Mukhtar Ablyazov have been returned.
"The Civil Cases Judicial Panel of the Zhambyl Regional Court considered a case regarding the prosecutor's appeal against the decision of the Taraz City Court dated 13 July 2018, which refused to uphold the complaint of the Nogaybay-Kazexim LLP against the actions of private bailiffs (PBs) concerning the recognition and annulment of the electronic auction results protocols", the press service of the Zhambyl Regional Court reported.
It emerged that in 2006, to obtain a loan, Kazexim LLP illegally pledged 16 land plots totalling over 14,000 hectares to BTA Bank. However, the actual land users only learned of the loan agreement and the pledge of the land plots in September 2010.
The court also reminded that in 2010 and 2017, the general director of Kazexim, Mukhtar Ablyazov, and other individuals were convicted. Significant amounts of material damages were recovered from them in favour of the bank.
"Due to the failure to fulfil debt repayment obligations, in 2011 the prosecutor of the Zhambyl region filed a lawsuit in the interests of BTA Bank JSC. By a court decision in 2011, a debt of over 3 billion tenge was recovered from Kazexim LLP in favour of the bank by foreclosing on the defendants' property", the court stated.
In September 2016, the PBs foreclosed on the pledged property of Kazexim, and in 2018, following auction results, 5 land plots of the company were sold.
"The Judicial Panel concluded that the 2018 court decision was unlawful, as it reliably established that the land plots were illegally transferred to Kazexim LLP and, therefore, must be returned to the residents of the Korday district. Thus, the rights and interests of the land users were protected by the court", the court noted.