Tag: russian courts

Application of the UNIDROIT Principles in the Practice of Russian State Courts

Application of the UNIDROIT Principles in the Practice of Russian State Courts

Through years the Principles of International Commercial Contracts developed under auspices of UNIDROIT (“the UNIDROIT Principles”) have gained a wide recognition in many countries worldwide. This is true also with regard to Russia. Not only arbitral tribunals in Russian-seated arbitrations, but also its state courts invoke the UNIDROIT Principles, even where the parties did not […]

“Remington Worldwide Limited v Ukraine” Saga: The First ECT Arbitration Conducted in Russian

“Remington Worldwide Limited v Ukraine” Saga: The First ECT Arbitration Conducted in Russian

 Remington Worldwide Limited v Ukraine is interesting not only as the first arbitration under the Energy Charter Treaty (the “ECT”) conducted in Russian.  It also reasserts the importance of a fundamental aspect of the rule of law – the principle of legal certainty. The case demonstrates how far-reaching the effects of the application of the exceptions from […]

Suspension of Arbitral Award Enforcement Because of Financial Hardship
By 14 December, 2011 0 Comments Read More →

Suspension of Arbitral Award Enforcement Because of Financial Hardship

On 3 November a Russian court of appeal set aside the 2-year suspension order of arbitral award enforcement granted  because of financial difficulties of the debtor. The history of arbitration is as follows. English company Borregaard Industries Ltd operating in Norway successfully applied to the Commercial Court of Saint-Petersburg and Region to enforce an arbitral […]

Yukos v Rosneft: Russian Courts are not Independent

Yukos v Rosneft: Russian Courts are not Independent

The Yukos saga continued in English courts this month. In Yukos vs. Rosneft English High Court found an issue estoppel based on a Dutch court determination that Russian judgments annulling Yukos arbitral awards resulted from a partial and dependent judicial process The facts of the case were as follows. Yukos Capital SARL (“Yukos”) claimed interest […]