Tag: SCC

Arbitrations against Ukraine: Overview of 2012

Arbitrations against Ukraine: Overview of 2012

In the past decade Ukraine has been one of the busiest respondents in the CIS region. However, the arbitration statistics of 2012 shows a change in this trend. On 30 January 2013 the Minister of Ecology and Natural Resources of Ukraine confirmed that the settlement agreement between Vanco Prykerchenska Ltd and Ukraine had been approved by the Stockholm […]

Powers of Attorney Regarding Future Disputes in Russia

Powers of Attorney Regarding Future Disputes in Russia

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 […]

Arbitral Tribunals Can Approve “Post-Award” Amicable Agreement

Arbitral Tribunals Can Approve “Post-Award” Amicable Agreement

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 […]

“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 […]

Newly Released Arbitration Award Says Yukos Was Expropriated

Newly Released Arbitration Award Says Yukos Was Expropriated

An arbitral tribunal in Stockholm concluded in an award released yesterday that tax assessment measures taken against Yukos were arbitrary and discriminatory. The proceedings were instituted by a group of Spanish investors in 2007. The award also confirmed that the claimant’s expenses in the arbitration were entirely funded by the Menatep Group (Yukos’ majority shareholder) which […]

ICSID Tribunal Refuses Jurisdiction in a Dispute Against Kazakhstan

ICSID Tribunal Refuses Jurisdiction in a Dispute Against Kazakhstan

According to the Kazakh Ministry of Justice, a foreign company which initiated a dispute against Kazakhstan has failed to establish that it was controlled by a national of a state party to the ICSID Convention. The ICSID tribunal in Caratube International Oil Company v Kazakhstan decided that the claim was brought by a Kazakh company which failed […]

Enforcement of Arbitration Awards in Russia: Public Policy on Excessive Damages

Enforcement of Arbitration Awards in Russia: Public Policy on Excessive Damages

In 2011, within the period of two months, the Supreme Commercial (Arbitrazh) Court of the Russian Federation rendered two important decisions concerning the enforcement of international arbitral awards.  In both cases enforcement applications were challenged on the ground, inter alia, of excessive damages as contrary to the public policy of the Russian Federation. Pursuant to paragraph […]

Russian Supreme Commercial Court on the “Lack of Authority” To Conclude Arbitration Agreement

Russian Supreme Commercial Court on the “Lack of Authority” To Conclude Arbitration Agreement

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, […]

Resisting Arbitral Award Enforcement Because of Excess of Mandate – Either at the Seat or Never

Resisting Arbitral Award Enforcement Because of Excess of Mandate – Either at the Seat or Never

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 […]

Failure to Seek Annulment of the Award: Any Consequences for the Enforcement in Russia?

Failure to Seek Annulment of the Award: Any Consequences for the Enforcement in Russia?

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 […]