Avellum has announced that it was part of the Ukrainian Arbitration Association’s (UAA) Working Group that prepared an amicus curiae (friend of the court brief (the “Brief”), submitted to the High Specialized Court of Ukraine for Civil and Criminal Cases to aid in the Court's consideration of an appeal against a lower court’s decision regarding the recognition and enforcement of a Grain and Feed Trade Association award of USD 17,536,000 and compound interest.
According to Avellum, the Brief is based on Ukrainian legislation and court practice. It also takes into account international approaches to issues relevant to the Court's consideration. The Brief addresses the the scope of public policy exception as ground to deny recognition and enforcement of foreign awards, and the court’s powers (i) to grant recognition and enforcement in part and (ii) to calculate interest at the rate set in a foreign award.
The UAA Working Group was chaired by Avellum Partner and Head of Dispute Resolution Dmytro Marchukov, who described the project as "the first of its kind in Ukraine," and said that "we are delighted and honored to be part of it. " According to Marchukov, "conclusions of the court on the issues in question may significantly influence further development of arbitration in Ukraine and perception of Ukraine as an arbitration-friendly jurisdiction.”
Marchukov was assisted by Avellum Senior Associate Serhii Uvarov and Associates Anna Vlasenko and Oleksii Maslov.
