Amsterdam & Partners LLP, acting as international counsel for technology entrepreneur Maxim Poletaev and SOLFY, an international finance firm operating in Uzbekistan, expresses grave concern regarding recent actions by the Government of Uzbekistan and the National Bank of Uzbekistan.
While discussions between SOLFY and the National Bank of Uzbekistan were ongoing, Xasanov Uktam Nasullotevich, CEO of SOLFY Uzbekistan, was detained under highly irregular circumstances, in a manner that appears intended to exert undue pressure on SOLFY's commercial position.
Robert Amsterdam, founder and managing partner of Amsterdam & Partners LLP, stated that such actions represent "a significant departure from the investor protection principles advocated by the President of Uzbekistan."
"These developments suggest a concerning use of state authority that may impact fundamental rights. Such conduct risks undermining investor confidence in Uzbekistan and raises questions regarding the state's commitment to transparent and lawful dispute resolution."
"Our clients remain committed to defending their rights and call for immediate adherence to international legal standards. We are confident that the local legal team in Uzbekistan will demonstrate that the charges against Mr. Xasanov lack legal merit. His continued detention during high-level settlement discussions contrasts sharply with Uzbekistan’s stated goal of maintaining a business-friendly environment."
Despite these procedural challenges, Maxim Poletaev, represented by Amsterdam & Partners LLP, intends to pursue all available legal remedies, including the transition of the matter to binding international arbitration.
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