The dispute for more than half a billion tenge was over by settlement of a mediation agreement in Ust-Kamenogorsk city court

The bank went to Ust-Kamenogorsk city court with a legal claim against 12 defendants for the recovery of debts on the bank loan agreement with the foreclosure of the mortgaged property.

The obligations to return the borrowed funds by the defendants were not fulfilled, and therefore, the plaintiff requested the defendants to recover from the amount of debt in the amount of 1,638,586,088 tenge and to foreclose on the mortgaged property.

In the course of the trial between the bank, 8 legal entities and 4 physical persons were concluded an agreement on the settlement of the dispute (conflict) in order of mediation conducted with the participation of a judge. Under the agreement, one of the defendants obliged within the prescribed period to pay the bank debt in amount of 1,638,586,088 tenge. In turn, the rest of the defendants agreed that in case of non fulfillment of the agreement conditions, this amount will be charged by the bank on the basis of written out by the court writ of execution from all the defendants with foreclosure on real and personal property mortgaged by them, by sale at public auction.

Based on that, by the court ruling the plaintiff was returned the state fee in the amount of more than 49 million tenge.

Decision has not entered into legal force.