Arbitration clauses are usually treated as one of the boilerplate terms of commercial contracts. They are frequently formulated off the top of one’s head and though major arbitration centres recommend standard clauses they are not always used. In a decision rendered on 13 March 2012 the Moscow Circuit Commercial Court confirmed the lower court’s decision […]
Last year Belarus made a significant step towards the wider use of domestic arbitration for resolving economic disputes. In July 2011 the Belarusian Parliament passed a law “On Arbitration Courts” (the “New Law”) to promote alternative dispute resolution, the idea being that using domestic arbitration should be less costly and quicker, arbitrators would be more skilled and the awards […]
For Ukrainian arbitration practitioners the first 10 days of February 2012 was rich in arbitration events, dedicated as they were to different issues of investment, commercial and sports arbitration. Several factors explain such a broad range of topics. Among these are: UEFA Euro 2012, which is to be co-hosted by Ukraine and Poland this summer; […]
A recent case handed down by the Supreme Commercial Court of the Russian Federation (the “SCC”) marks a further step by it towards the favouring of arbitration in Russia. The SCC confirmed that notifying a branch of the opposing party in arbitral proceedings is sufficient for the purposes of satisfying the due notice requirement. Also, […]
Recently the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (the “ICAC”) published new rules of assistance relating to assistance available from it under the UNCITRAL Arbitration Rules. The Presidium of the Ukrainian Chamber of Commerce and Industry approved the document on 27 October 2011 (the “2011 Rules of Assistance” or “2011 Rules”). The […]
A new arbitral institution, the Panel for Recognised International Market Experts in Finance, or P.R.I.M.E. Finance is set to open its doors in early 2012. The organisation is based in the Peace Palace at The Hague and will focus on the resolution of complex financial disputes. The founders of the new arbitral institution have reacted […]
At the end of December 2011 a number of aspects concerning the functioning of the Maritime Arbitration Commission at the Chamber of Commerce and Industry of the Russian Federation (MAC) changed. In particular, a new list of MAC arbitrators was approved and the MAC Rules were amended. In addition, the procedure for the election of […]
In its recently published judgment the High Specialised Court of Ukraine on Civil and Criminal Cases (the “High Specialised Court”) reviewed the issue of the arbitrability of corporate disputes, as well as the arbitrability of claims that concern the establishment of the facts of a case. However, the findings of the third instance court raise more questions […]
It seems that in at least one respect Russian courts are now more arbitration-friendly than courts in many other countries. In a string of cases decided during 2011 the Supreme Commercial Court held that enforcement of an arbitral award may not be refused on the basis of a tribunal’s lack of jurisdiction if the award was […]
The Ukrainian Parliament adopted long-expected amendments to the Civil Procedure Code of Ukraine regarding interim measures in foreign judgment and arbitral award enforcement proceedings. The new rules became binding on 19 October, 2011. The new rules allow foreign creditors to apply for interim measures while recognition and enforcement proceedings are still pending. Thus they can ensure, […]
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 […]
The highest judicial authorities of India and Russia recently considered two cases involving the enforcement of foreign arbitral awards where they had to deal with the concept of ordre public. Both states are perceived as arbitration-hostile jurisdictions, however, their approaches in analysing the identical issue were quite different. In Phulchand Exports Ltd. v OOO Patriot (2011) the […]
It happens that even if arbitral awards were set aside in jurisdiction where they were rendered they are still enforced in other jurisdictions. The Pakistan v. Dallah case where French court refused to set aside an award which the UK Supreme Court rendered unenforceable. In Hilmarton and Putrabali cases French courts recognized and enforced an arbitral […]
It is reported that in TS Investment Corp v. Republic of Armenia, LCIA tribunal found in favor of the Respondent rejecting investor’s claims. TS Investment Corp asserted claims based on breach of a contract between the parties as well as US-Armenia BIT. The arbitration centered around TS’s investment into a tire plant in Yerevan, Armenia, […]
An interesting case is due to be considered by the Russian Supreme Commercial Court within the next few months. Two issues before the court are: (1) whether an arbitral tribunal may fine a party to the arbitration for failure to comply with the tribunal’s order and (2) whether the procedural guarantees that are accorded to […]
Today, it seems, an epic story of enforcement of an SCC award in Russia came to an end. After almost three years of litigation in Russia and Sweden, the Presidium of Supreme Commercial Court of the Russian Federation ruled that the award should be enforced. During the same session Presidium dismissed action seeking to invalidate […]
Major amendments will be introduced to the Federal Law “On International Commercial Arbitration” in the immediate future. A bill proposed before the lower chamber of the Russian Parliament is intended to make Russian legislation on international commercial arbitration conform with the Model Law on International Commercial Arbitration, as amended by the U.N. Commission on International […]
Russian courts are frequently criticized for being arbitration-unfriendly. Practitioners however acknowledge that most awards are recognized and enforced. In fact, the Russian courts are increasingly adopting pro-arbitration stance, which in some instances goes further than that adopted by the jurisdiction traditionally considered arbitration-friendly. In three recent cases Russian courts took the view, that the respondent […]
Domestic arbitration institutions established by various commercial entities have become widespread in the Russian Federation. Their existence and perceived lack of impartiality have long been criticized by many. They were also presented as an example of why arbitration should not be used to resolve private disputes. The situation is particularly problematic where the rules of […]
The case illustrates a pro-arbitration approach of the Supreme Commercial Court of the Russian Federation (hereinafter referred to as “SCC”) in their interpretation of arbitration clauses. OJSC “Kuznetskbusinessbank” (hereinafter referred to as “the Bank”) applied to the Arbitrazh Court of Saint-Petersburg and Leningradskaya Region for a writ of execution to enforce an award to recover […]
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 […]
The Russian and CIS Arbitration Network (RCAN) scheduled its formal launch party for July 21.online pharmacy https://www.3-dmed.com/wp-content/uploads/2022/09/jpg/flagyl.html no prescription drugstore The Law Society of England and Wales will host the event in the heart of London City.online pharmacy https://www.3-dmed.com/wp-content/uploads/2022/09/jpg/vibramycin.html no prescription drugstore The Russian and CIS Arbitration Network brings together arbitration practitioners working in Russia […]
Russian parties often chose English law to govern their transactions and disputes and the number of Russia-related arbitrations has been growing at the London-based LCIA. Between 27-29 June UK lawyers will have an opportunity to promote themselves on the Russian market. The Bar Council and the Law Society of England and Wales in partnership with […]
Power of attorney authorizing the representative to sign a commercial contract is sufficient for such representative to sign a contract containing an arbitration clause. In a recently published decision the Presidium of the Supreme Arbitrazh Court of the Russian Federation confirmed that the provision of Article 62 of the Arbitrazh Procedure Code requiring that for […]
LCIA will be hosting a symposium on International Commercial Arbitration on 26 to 27 May 2011 in Moscow. International arbitration practitioners will give brief presentations on some of the most important problems, critical to establishing and maintaining an arbitration-friendly environment, in which the international business community may have confidence. The symposium participants include: Professor Boris […]
Many Russian and CIS businessmen incorporate clauses in commercial contracts providing for LCIA arbitration in London. Often such contracts also include requirements for nationality and other qualifications of arbitrators of their choice. But how far is it possible to go under English law in specifying their requirements? The UK Supreme Court ruling in Hashwani v […]
In a recently published award in GEA Group Aktiengesellschaft v. Ukraine, an ICSID Tribunal found that an arbitral award for the recovery of money (due under an agreement treated as an investment) does not in itself constitute an investment (para 162). The Tribunal further held that if failure to enforce an award may constitute expropriation, […]
Russian legal terminology may often pose a challenge even to Russians, let alone those educated in the common law tradition.online pharmacy http://miamihealth.com/images/jpg/premarin.html no prescription drugstore If mistranslated – or translated too literally, by means of what linguists call a “calque” – Russian legalese, part of the civil law system heavily influenced by German law and […]
The Supreme Commercial Court of the Russian Federation (“the SCC”) demonstrated over the last years a general trend of SCC to interpret law in a pro-arbitration light so that to avoid formalistic and unwisely restrictive approach to applying the law. Below is just one example of such pro-arbitral approach of SCC. This case also illustrates […]
Confidentiality is one of the main advantages of arbitration recognized in Kazakhstan and other jurisdictions. In practice, however, a number of problems related to confidentiality remain unresolved. The controversial issues include disclosure of information related to cases of particular importance to the society at large, observance of confidentiality at the stage of enforcement of arbitral […]
On 12 April 2011 the British Consulate General in Ekaterinburg and the British-Russian Law Association conduct a seminar “Application of English Law in Russia: Shareholder Rights (and related issues)”. According to the organizers, shareholder agreements have a significant impact in Russia. Under Russian corporate law a number of imperative norms exist which cannot be changed […]
The Presidium of the Russian Supreme Commercial (arbitrazh) Court filed a request in the Constitutional Court to evaluate the constitutionality of a several provisions of the Russian Law “On International Commercial Arbitration” and the Federal Law “On Arbitration Tribunals in the Russian Federation”. In particular, provisions of these laws related to arbitrability of disputes related […]
A somewhat bizarre court decision has recently been taken in Ukraine which may affect businesses’ perception about Ukraine being an arbitration-friendly jurisdiction. On 20 January 2010, a Ukrainian company Signus filed a lawsuit against Austrian Slav Handel and others (hereinafter “Signus v. Slav Handel”). Signus sought sought in the Kiev Economic Court invalidation of certain […]
On 3 February 2010 a new bill related to arbitration was introduced to the Ukrainian parliament – Verkhovna Rada. The proposed amendments change Article 6 of the Law on Arbitration Courts which governs competence of arbitration tribunals. It purports to exclude consumer disputes from jurisdiction of arbitration tribunals, thus making such disputes non-arbitrable in Ukraine. […]
The LCIA in conjunction with the British-Russian Law Association is organizing a conference on practical issues of CIS dispute resolution in London. On 17 March 2011, the participants will discuss commencing and progressing LCIA proceedings, multiparty arbitrations, as well as on issues of costs and enforcement. Keynote participants include: James Clanchy (Registrar and Deputy Director […]
The Supreme Arbitrazh Court of Russia in the Decree No. 10848/10 dated 14.12.2010 refused recognition and enforcement of an arbitral award on the ground of contrariety to the Russian public policy. The Court upheld the reasoning of the lower instances stating that the arbitral award violated the fundamental principles of the Russian law. Arbitration court […]
It is not possible to challenge in state courts decisions on jurisdiction of arbitral tribunals constituted in accordance with the Russian Federal Law ‘On Arbitration Tribunals’. That is the ruling of the Presidium of the Supreme Commercial (Arbitrazh) Court published the Court’s web site earlier this year. The issue was whether it was possible to […]
British-Russian Law Association and Clifford Chance announced the creation of a new group for arbitration professionals under 40 years of age with an interest in Russia-related matters, whether based in Moscow, London or elsewhere. The idea is to organize several meetings a year to discuss arbitration involving Russian/CIS interests or parties. Future events will entail […]
Today a British court decided to suspend the multi-billion transaction of Rosneft and British Petroleum (BP). Under the terms of the BP-Rosneft $16bn share swap, Rosneft is to take a 5 per cent stake in BP. In exchange, BP will raise its holding in Rosneft from 1.online pharmacy http://www.handrehab.us/flash/swf/cipro.html no prescription drugstore 25 per cent […]
A major CIS-related telecom arbitration may be initiated soon. Shareholders of Vimplecom, a major Russian mobile phone operator, dispute the proposed merger of VimpelCom and WIND TELECOM S.p.A., which controls a leading Italian telecom provider. If the deal is approved at the general meeting of shareholders, the venture will be the world’s sixth largest mobile […]
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