#United States #Washington #Arbitration Award #TRG International #Zia Chishti

TRG International Announces Major Share Transfer

TRG International has officially stated that the Bermuda Supreme Court on January 19, 2026, mandated the transfer of all shares held by its former Chairman, Zia Chishti. This ruling came as a part of the enforcement of an arbitration award stemming from a substantial financial dispute.

Background of the Case

The origins of this legal battle date back to April 22, 2025, when an arbitration tribunal issued a significant ruling against Chishti, implicating him in failing to pay an outstanding amount exceeding $9 million. This financial liability was linked to an unlawful pledge involving TRG Pakistan Limited shares tied to a loan obtained from JS Bank. The Bermuda Court upheld the arbitration award on July 4, 2025, which Chishti contested but ultimately lost in the courts, with objections dismissed on October 24, 2025.

In the wake of these proceedings, TRG International undertook steps to recover the awarded damages through enforcement processes in both the United States and Pakistan, aiming to recover assets tied to Chishti that could cover this significant claim.

U.S. and Pakistan Enforcement Proceedings

Further complicating matters, investigations in the United States revealed that Chishti had potentially transferred assets with the intent to defraud TRG International after the arbitration award was finalized. A U.S. District Court confirmed the award on June 18, 2025. Notably, in January 2026, this court identified actions taken by Chishti to hinder the collection of the award as fraudulent in nature. Due to these findings, entities that received assets inappropriately from Chishti have already begun compensating TRG’s creditors, having paid approximately $1.2 million to date.

Simultaneously, attempts to enforce the arbitration ruling in Pakistan commenced in the Sindh High Court on May 3, 2025, with judgment reserved as of November 3, 2025. This dual approach not only reflects TRG's commitment to recovering owed amounts but also underscores the international dimensions of corporate governance and accountability.

About TRG International

Founded as a global technology holding company, TRG International focuses on nurturing technology-driven service enterprises. It supports roughly 40,000 employees in its global operations, reflecting a robust commitment to sustainable practices and strong governance. The complexities of its recent legal challenges demonstrate the intricate balance between corporate leadership and accountability.

As the dust settles on this contentious dispute, TRG International’s decisive steps could impact the company's future in terms of integrity and governance, setting a precedent for similar cases across industries where corporate misconduct arises.

Given the judicial systems of both the United States and Pakistan participate in the New York Convention, the operational framework available to TRG for enforcing the arbitration award remains strong and well-founded. With the ongoing developments, stakeholders and observers alike are keen to watch how these proceedings will unfold and influence TRG International's reputation and operational strategies moving forward.