Practical Law has published an article by Maxim Kulkov and Sergey Lysov
Practical Law has published an article, Russian Arbitration Law 2016: key issues by Maxim Kulkov and Sergey Lysov. This article examines the key issues arising under the Russian Arbitration Law which came into force on 1 September 2016.
On 29 December 2015, the Russian President, Vladimir Putin, signed the new Laws N 382FZ “On Arbitration” and N 409FZ “On Amendments to Certain Legislative Acts” (collectively, Arbitration Law). The Arbitration Law entered in force on 1 September 2016 and introduced several significant amendments, including to the:
- Procedure of the establishment of arbitral institutions.
- Arbitrability of corporate disputes.
- Status of arbitrators.
- Cooperation between state courts and arbitral institutions.
The principal aims of the legislative amendments were to decrease the number of socalled “pocket” arbitral institutions, that are dependent on one of the parties, and to prevent unfair use of arbitration as a way of legitimising parties’ illegal interests. Before the amendments came into force, any legal entity could create its own domestic arbitral institution and use it for its own private purposes.
Reproduced from Practical Law with the permission of the publishers. For further information, visit www.practicallaw.com or call +44 (0)20 7542 6664.