Amsterdam & Partners LLP: Firm calls on Uzbekistan Government to stop taking commercial hostages, uphold international legal standards

"End Hostage Taking for Commercial Benefit in Uzbekistan," Says Robert Amsterdam

LONDON--(BUSINESS WIRE)--Amsterdam & Partners LLP, acting as international counsel for technology entrepreneur Maxim Poletaev and SOLFY, an international finance firm operating in Uzbekistan, condemns in the strongest terms what can only be described as an act of bad faith 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 abruptly detained in the middle of the night, in circumstances that appear designed to extract maximum leverage from SOLFY.

Robert Amsterdam, Founder and Managing Partner of Amsterdam & Partners LLP, stated that such actions are "a stark departure from the stated principles of investor protection held out and advocated by the President of Uzbekistan.

"Such conduct reflects a misuse of state power and a disregard for fundamental human rights. It undermines confidence in Uzbekistan as a destination for foreign direct investment and calls into question its commitment to fair and lawful dispute resolution.

"Our clients will continue to defend their rights, and we call for immediate adherence to international legal standards. We are confident that the excellent local legal team in Uzbekistan will ensure that Mr. Xasanov is released promptly, as the charges against him are legally meritless. Each day he spends behind bars on trumped up charges, instituted during high level settlement discussions, is a stain on the supposedly business-friendly credentials of Uzbekistan."

Despite the underhanded pressures exerted upon SOLFY by the Government of Uzbekistan and the National Bank of Uzbekistan, Maxim Poletaev, represented by Amsterdam & Partners LLP, intends to continue to pursue all legal means of redress, including through the use of binding international arbitration.

Amsterdam & Partners LLP is an international law firm based in London and Washington, DC, specialising in political advocacy and human rights. For more information, please visit www.amsterdamandpartners.com.