On September 17, Maxim Kulkov and Nikolay Pokryshkin addressed the XII Annual ABA Conference in Moscow on the Resolution of CIS-Related Business Disputes
Maxim Kulkov, Managing Partner of KK&P law firm, moderated the “Russian countersanctions responding to US/EU sanctions, including the June 2020 changes to the Russian Arbitrazh (Commercial) Procedure Code” panel on the latest changes to the Russian Arbitrazh (Commercial) Procedure Code which allow Russian sanctioned companies to ‘drag’ their disputes which fall under the jurisdiction of foreign courts and arbitrations to Russian courts.
The panellists analysed the risks caused by the new law and ways to minimise them.
Nikolay considered the particular factors affecting creditor options in case of a defendant going bankrupt, i.e., to continue the arbitration in parallel with the bankruptcy proceedings despite the inability to fully exercise the creditor’s rights in it, or to suspend/terminate the arbitration proceedings in order to fully participate in the bankruptcy.
Nikolay also highlighted general issues of settlement in arbitration with a party under insolvency proceedings.
Together with Nikolay, the discussion participants were Peter Ferrer (partner, Harneys) and Sergey Petrachkov (partner, ALRUD).
Maxim’s co-speakers were Konstantin Kroll (partner, Dentons) and Yaroslav Klimov (partner, Norton Rose Fulbright).
The American Bar Association’s (ABA) XII annual conference on resolution of CIS-related business disputes is organised by the Russian Arbitration Association. The conference traditionally brings together judicial and corporate lawyers, experts in arbitration, judges and representatives of science and business to discuss relevant challenges faced in the resolution of business disputes in the CIS.