By Caroline Simson (May 6, 2022, 6:30 p.m. EDT) – A Turkish company that has been suing Kyrgyzstan for years over an exceptional $11.6 million arbitration award it won after being forcibly evicted from its hotel four-star hotel in the capital of Bishkek said on Friday the former Soviet state now owed almost as much in penalties.
Sistem Mühendislik Inşaat Sanayi Ve Ticaret AS has urged a federal court in New York to issue judgment on $8.56 million in penalties, which have accrued as the country continues to ignore enforcement litigation that the Turkish company filed a little less than ten years ago.
This is in addition to a previous judgment of $2.28…
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