Kyrgyzstan: Canadian Court Unfreezes State's Centerra Shares
Kyrgyzstan’s state-run Kyrgyzaltyn gold company says a court in Canada has lifted a freeze on its stake in Toronto-listed Centerra Gold, which in turn owns the concession for the giant Kumtor gold mine.
Kyrgyzaltyn said in a statement on July 25 that the reverse of the freeze, which was imposed in 2014 during a dispute between Kyrgyzstan and several foreign companies, will apply to shares and dividends.
The Ontario Superior Court of Justice ruled on the case on July 20, according to the statement.
Sorting through this tangled web requires an effort of concentration, while the consequences of the resolution of this part of the puzzle on the ongoing dispute between Centerra and the government remain unclear.
The Ontario court-mandated freeze on Kyrgyzaltyn’s share in Centerra stems from suit filed by numerous companies arguing that they had been unjustly treated by the government in Bishkek.
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