In June, the courts resolved several disputes over compensation for assets frozen in Western depositories. Practice has shown that there is no unified approach yet: few companies manage to recover the full value of securities, and the Supreme Court insists that only lost income should be compensated. At the same time, in many such disputes, the courts apply Articles 248.1 and 248.2 of the Arbitration Procedure Code. Partly due to the extensive practice of applying the “Lugovoy Law” in the UK, the demand for anti-suit injunctions has grown. But lawyers are confident that in the future there will only be fewer of them. At the same time, some countries have introduced new sanctions, and in working with Asian partners, export control rules have changed and there has been more fraud.
Elena Lebets, an Associate in the Dispute Resolution practice at Nordic Star, commented on the Supreme Court’s ruling in case No. A40-116513/2024, where the Economic Collegium determined that disputes over blocked Eurobonds can be resolved in arbitration courts.
The commentary is available on the Pravo.ru website.