Costs of International Arbitration
“We invite all legal representatives, in-house counsel and arbitral tribunal members
to contribute to this major survey into costs in international arbitration. The survey
report and conference will provide an invaluable contribution to the debate on costs,
helping to generate proposals to restore speed and cost-effectiveness to the arbitration process.
This is essential if international arbitration is to maintain its position
as the commercial dispute resolution method of choice."
“To make the survey effective, we need corporate counsel, party representatives, arbitrators and tribunal members to give us as much data as possible on arbitrations in which they have been involved.”
Doug Jones SC FCIArb, Vice President of CIArb
The Chartered Institute of Arbitrators (CIArb) has launched a major survey into the costs of international arbitration. The ‘Costs of Arbitration’ survey gathers data to inform parties, legal representatives and arbitrators about the overall costs of international commercial arbitration and how these are incurred at each stage.
Energy Charter Treaty: Remington Worldwide Limited vs Ukraine
On 28 April 2011 the Arbitral Tribunal of the Arbitration Institute of the Stockholm Chamber of Commerce rejected most of the claims filed by Remington Worldwide Limited against Ukraine. The company accused Ukraine in violating the Energy Charter Treaty ratified by the Ukrainian Parliament, Verkhovna Rada in 1998.
New rules of the protection of Ukraine’s state interests in international jurisdictional bodies
On March 15, 2011 the new version of the Order of protecting the rights and interests of Ukraine during the disputes, before the foreign jurisdictional authorities in cases involving a foreign entity and Ukraine came in force. The Order was approved by the Decree of the President of Ukraine.
Piece! Ukraine is oriented to amicable settlement of arbitration cases
The Ministry of Justice of Ukraine that is authorized to defend state interests in foreign courts and arbitration tribunals, currently is in the negotiation process for a peaceful settlement of 7 disputes with foreign investors, stated the Minister of Justice Oleksandr Lavrynovych in an interview to "Investgazeta" (Monday, March 14, 2011).
The Minister explained that in the process of developing strategies of protection of Ukraine's interests in every case of a dispute with a foreign investor Ministry comes primarily from the possibility of a peaceful settlement.
Securities industry arbitration: diametrically opposite approaches
Securities industry arbitration is rather young ADR instrument in Ukraine. Though the security industry is one of the spheres that particularly needs its own mechanism of resolution of specific disputes, arbitration in this market is still at the beginning of its development process. Apart from arbitration courts established by several banking associations there are specialized securities market arbitration courts created by self-regulatory organizations and business associations. Since there are no unified practice or resolving particular legal problems, participation of the specialist from the industry as arbitrators is usually highly recommended. The main reason of the involvement of industry arbitrators is that they know the rules and customs of the industry.
The ruling of the Supreme Court of Ukraine in RosUkrEnergo v. Naftogaz Ukrainy JSC case
As we announced earlier the Supreme Court of Ukraine ruled on enforcement under the New York Convention of a Swedish arbitral award rendered in RosUkrEnergo v. Naftogaz Ukrainy JSC case. Recently the SCC published the unofficial translation of the Court’s ruling. For those who are interested it is available here.
Posted by International Arbitration Team
RosUkrEnergo investigation commission of the Verkhovna Rada assumes that Naftogaz Ukrainy JSC lost the SCC case because of change of its legal position
On November 17, 2010 RosUkrEnergo investigation commission of the Verkhovna Rada presented draft report regarding the award of the arbitral tribunal under the rules of the Arbitration Institute of the Stockholm Chamber of Commerce.
The draft is subject to consideration of the core committee, thus it is not the final version yet. However, the draft contains assumptions and conclusions that may be interesting for our readers who follow the RosUkrEnergo case. After the arbitral tribunal had issued its awards of March 3, 2010 and June 8, 2010, they were recognized and permitted to be enforced according to the ruling of August 13, 2010 adopted by the Shevchenko District court of Kyiv. The ruling was then appealed. However, the Court of Appeal dismissed the appeal. As we may say the state officials and bodies pay great attention to the outcomes of the case, which already lead to criminal proceedings instituted against former officials of customs authorities.
If the case was lost in arbitration, let’s win in the Parliament
After the award in Rosukrenergo (we followed the case in our previous posts) case was issued against the Ukrainian respondent, Ukrainian authorities and state officials announced several options of further actions, including filing an appeal against the award issues by the arbitral tribunal of the Arbitration Institute of the Stockholm Chamber of Commerce.
In addition to those measures the members of the Ukrainian Parliament invented another one.
Welcome to our new Contributors: Konrad & Justich international law firm
Konrad & Justich's International Arbitration Practice Group is a highly specialised group of international arbitration lawyers, qualified in multiple jurisdictions, trained and skilled in all areas of dispute resolution and with particular expertise in handling high-profile arbitration cases before major arbitral institutions and ad-hoc panels.
New Age Attorneys
We continue a series of comments on this blog and we apologize to our subscribers and readers for a pause. The reason for the pause was the active involvement of the author of the blog to the process of establishing a new player in the legal services market that has occupied a niche of services in the field of international arbitration, trade and investment. I beg your welcome! Cai & Lenard Law firm!
The firm's lawyers shape the practice of arbitration in Ukraine. This blog will be updated by the analysis of these practices along with other useful materials. Cai & Lenard Website
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