In February, the Advocate General of the Court of Justice of the EU prepared an opinion interpreting Article 11 of Regulation (EU) No. 833/2014. It prohibited the return of advances to Russian parties and established that enforcement of a judgment in favor of a sanctioned entity would be considered a violation of public policy. However, the issue is not resolved, and the Court of Justice of the EU will have to further clarify how arbitral awards in favor of sanctioned entities should be enforced. Practice under the “Lugovoy Law” is also developing, and these provisions of the Arbitration Procedure Code may be used for the first time in a family dispute. At the same time, Russia and state-owned companies are fighting for their assets, raising questions about immunities and the “alter ego” doctrine.
In an article for the international digest Pravo.ru, Ana Radoja, a junior associate in Nordic Star’s Dispute Resolution practice, commented on the Arbitration Court of the Stockholm Chamber of Commerce’s (SCC) decision to recognize and enforce the award rendered a year ago by the Arbitration Institute of the Stockholm Chamber of Commerce in a dispute between the Russian company Informtekhnika i Promsvyaz and the Kazakh Bank RBK.
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