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Covington & Burling Successful for DTEK on Seized Crimean Assets Before International Arbitral Tribunal

Covington & Burling Successful for DTEK on Seized Crimean Assets Before International Arbitral Tribunal

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Covington & Burling has successfully represented DTEK before the International Arbitral Tribunal seated in the Hague in a case against Russia over seized Crimean assets.

According to DTEK, the tribunal "ordered Russia to pay DTEK USD 267 million in damages for the seizure of company assets in illegally occupied Crimea. The lawsuit, first filed in 2017, relates to the seizure of the Group's DTEK Krymenergo business, an energy distribution and supply company. Russia seized the assets following the occupation of Crimea in 2014."

"DTEK intends to initiate the process for recognition and enforcement of the award in countries where Russian assets are located without delay. The award is enforceable under the 1958 New York Convention," the company announced.

The Covington & Burling team was led by Partners Marney Cheek and Jonathan Gimblett.

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