The Presidium of the Russian Supreme Commercial Court has clarified its position on the authority to conclude arbitration agreements. The general counsel of a company branch concluded a contract with an arbitration agreement under a power of attorney authorising him to represent the company at court and in particular to settle disputes or to refer […]
We reported earlier that in June 2012 an ICSID tribunal dismissed Caratube International’s USD 1 billion claim against Kazakhstan on jurisdictional grounds. The full text of the award has now been released and is discussed in this article. The dispute centred around the termination of Caratube’s licence to an oilfield in Kazakhstan and allegations that Caratube […]
A settlement agreement can be concluded even after the arbitral tribunal has rendered an award in the case, and such an agreement can be approved by the same arbitral tribunal as a consent award. The Russian Supreme Commercial Court (the “SCC”) Presidium reached this conclusion on June 7, 2012. The circumstances of the case were as […]
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