Practical Law has published an article by Maxim Kulkov and Elena Zaltser
Practical Law has published an article, Commercial Court of Moscow terminates recognition and enforcement proceedings because debtor registered outside jurisdiction, authored by Maxim Kulkov and Elena Zaltser.
The Commercial Court of Moscow has terminated recognition and enforcement proceedings relating to a London Court of International Arbitration (LCIA) award, reasoning that the debtor was registered in Cyprus which was known to the creditor prior to filing the enforcement application.
The Commercial Court considered that Article 242 of the Commercial Procedure Code provides that an application to recognise and enforce an arbitration award must be filed with the commercial court of the Russian Federation where the debtor is situated or, if such place is unknown, where the property is located.
If the creditor appeals, it is likely that the ruling will be corrected by higher courts. Otherwise it may signal the beginning of a bad trend. (Case No. A40-183971/2016.)