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 […]
Until very recently, the word “arbitration” was unfamiliar to many lawyers in Russia. The word still carries two meanings there: one referring to the system of Russian state commercial courts and the other, the more generally-recognized contract-based private dispute resolution procedure. Although many in Russia understand the western concept of “international arbitration” in general terms, a number […]
The Ministry of Economic Development of the Russian Federation has recently proposed amendments to the Federal Law “On International Commercial Arbitration”. The amendments reflect more than fifteen years of application of that Law. They also reflect the 2006 amendments to the UNCITRAL Model Law on International Commercial Arbitration which was the basis for the Russian […]
The Chamber of Arbitrators under the Union of Lawyers is a new institutional arbitration forum established in Belarus this year. The Union of Lawyers is the biggest Belarusian jurists professional association that unites all representatives of the legal profession – from law students and paralegals to judges. The Belarusian Chamber of Commerce and Industry (BelCCI) […]
The arbitral tribunal may consider evidence in any language even if the parties agreed upon a particular language of the arbitration, the Russian Constitutional Court confirmed. Russian parties trying to enforce arbitral awards sometimes apply to the Russian Constitutional Court to clarify the meaning of the Federal Law “On International Commercial Arbitration”.This law almost completely […]
The importance of careful drafting of arbitration agreements is often underestimated in countries of the former Soviet Union. A recent case from a United States Court of Appeals illustrates this well. In September 2011, the United States Court of Appeals for the Ninth Circuit considered an ambiguous dispute resolution clause which required settlement of disputes […]
In a recently published decision, the Presidium of the Russian Supreme Arbitrazh Court (“SC”) held that provisional awards of arbitral tribunals are not enforceable in the Russian Federation. The SC said Russian law only provides for enforcement of awards that are final and actually resolve the substance of the dispute. Facts of the case Living […]
The European Court of Human Rights recently ruled in Kin-Stib & Majkic v. Serbia that failure to enforce an arbitral award amounts to violation of the right to peaceful enjoyment of possession. This note first summarizes the ruling and then considers its implications. In particular, it discusses whether an arbitral award can be expropriated by […]
A set of rules aimed at regulating mediation in the Russian Federation is due to enter into force on 1 January 2011. It includes Federal Law On Alternative Procedure of Dispute Settlement with Participation of Mediator (Mediation Procedure) and a separate set of amendments to the Russian procedural laws designed to incorporate mediation into the […]
When former Yukos shareholders promised a “life-long litigation” for their assets, very few took it seriously. After all, until recently there have been no precedents of successful enforcement of arbitration awards against the Russian Federation. But this perception has been changing over the last last few months, with Yukos shareholders advancing on at least three […]
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