According to media reports, American oil giant ExxonMobil submitted a tax claim against the Russian Federation in arbitration at the Stockholm Chamber of Commerce (the “SCC“) at the beginning of April. The dispute concerns Exxon’s Sakhalin-1 oil and gas project in Russia’s Far East. The investor believes that it overpaid $500 million in profit taxes because a 2009 cut in the rate of profit […]
On 12 March 2015 a Russian appellate court overruled the lower court’s decision invalidating the “lender’s option” part of a complex dispute resolution clause and referring parties to arbitration. As discussed earlier on the CIS Arbitration Forum, the lender’s option clause empowers only one of the parties to the facility agreement to institute proceedings before any competent state court in spite of the […]
The recent decision of the Russian Supreme Court in the case of Geotrest LLC v Gazprom Invest Vostok LLC and an earlier decision of the Constitutional Court indicate a significant change in the approach of Russian courts to the so-called “pocket arbitration courts”. These decisions contradict the previous practice and will most likely lead to significant […]
20th Anniversary ICAL Conference in Stockholm on 31.08 and 01.09
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