Maxim Kulkov gave a presentation on the efficacy of investor disputes against states at the 10th annual ABA Conference in Moscow On Resolving Commercial Disputes in which CIS Countries are Participants
On 27 September, KK&P Managing Partner Maxim Kulkov gave a presentation entitled ‘Investment Arbitration. Is the game worth the candle?’ The presentation was based on an analysis of the most instructive arbitration proceedings of the last 20 years and was given as part of Discussion No. 9 ‘Recent developments in investor-state arbitration and enforcement of awards against sovereigns’.
The first part of Maxim Kulkov’s presentation, concerning the arbitration proceedings stage, used statistics to illustrate the chances winning a dispute between an investor and a state, and claims being satisfied in full, time and financial expenditure, and the possible returns on such proceedings.
The second part, concerning the enforcement of an arbitration award, used examples from practice including voluntary enforcement, and highlighted the specific features of enforcement against different CIS states (Russia, Kazakhstan and the Ukraine).
In one of the most significant such disputes, i.e., Tatneft vs Ukraine, in which KK&P represented Ukraine, courts of several instances (the Moscow Arbitration Court on 15 June 2018 and the Moscow Okrug Arbitration on 2 August 2018) confirmed the immunity of Ukraine’s assets in Moscow, which was a tactical victory for the firm at this stage of the proceedings. The team of lawyers in this case was led by Managing Partner Maxim Kulkov and Partner Oleg Kolotilov.