The involvement of state bodies and companies in international commercial arbitration remains a pressing issue not only in Ukraine, but also far beyond its borders. The temptation to question either the validity or operation of arbitration agreements concluded by state-owned entities brings before the courts and international arbitration tribunals a variety of factual patterns and […]
The 2008 financial crisis peak had hardly faded away, when another breaking news was brought to the surface in CIS countries: a significant part of the funds advanced during the pre-crisis period by banks and other financial institutions to support various businesses and commercial initiatives, flew beyond national frontiers to be found in Panama, BVI, […]
Article V1(b) of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, better known as the New York Convention,(1) provides that recognition and enforcement of a foreign arbitral award may be refused, at the request of the party against which it is invoked, only if that party furnishes proof to the competent authority […]
6 February has marked lawyers’ calendars with an important message from the UK Supreme Court: English courts will not accept the jurisdiction over a dispute having the “centre of gravity” in another country. In particular, the Court found that in a tort claim, where the key issues in the litigation would on the face of […]
Introduction When bankruptcy proceedings are opened against a Ukraine-registered debtor company, a register of creditors’ claims must be formed in order to decide on debt repayments. If a creditor does not file an application for entry into the register, its claim will be considered discharged. To be entered into the register, the creditor’s claim must […]
The Presidium of the Ukrainian Chamber of Commerce and Industry (UCCI) recently amended Article 52 of the Rules of the International Commercial Arbitration Court (ICAC) at the UCCI. This article governs the procedure for forwarding an arbitral award to the parties to arbitration proceedings. Background Article 52(1) of the rules, which were approved by a […]