Specialized financial court

Specialized financial court in Almaty city was established on 17 August, 2006 in accordance with Decree of the President of the Republic of Kazakhstan #158. As of today newly formed court is the only in the court system of the Republic of Kazakhstan, uniqueness of which is approved by strengthening its status as the regional court, dealing with the civil disputes only in the first instance. Appeal and supervisory consideration of protested and appeal cases assigned to authorities of corresponding boards of Supreme Court of the Republic of Kazakhstan.

Taking into account that even representatives of foreign companies can appeal to the Specialized financail court in Almaty city for the first time in the history of domestic jurisdiction there has been given permission in a legal base to use English language in maintaining procedures.

Jurisdiction of Specialized financial court in Almaty city has exterritorial character and encloses all the territory of the Republic of Kazakhstan irrespective to the place of occurence of the disputed fact or location of the defendant. The main characteristic of cases being considered by the court is partisipation of one of the disputing parties in RFCA as it is pointed out in part 3 of the article 28 of the Civil Procedure code of the Republic of Kazakhstan.

The necessity in creation of the financial court was aimed to simplify legal proceedings for the participants of RFCA. There is no language barriers in maintaining of procedures in the financial court it means that civil cases connected with realization of brokerage and dealer activities.

It is necessary to mark that there doesn't exist such a kind of financial court on a post-soviet space and there are only several of them all over the world.

All the judges of the financial court are highly professional specialists, that is why specialized financial court in Almaty city is ready to accept any jurisdictional complaints and consider in order of civil jurisdiction.

More detailed information on the official web-site of Joint Stock Company “Regional financial centre of Almaty city”: www.rfca.kz