Bryan Cave Leighton Paisner (Russia) is representing Russian hydroelectricity company RusHydro in an international arbitration brought against the Kyrgyz Republic over the termination of the intergovernmental agreement dated September 20, 2012 for construction and operation of the Upper-Naryn hydroelectric power plants.
The Hong Kong-seated arbitration is being administered by the Permanent Court of Arbitration in The Hague.
According to BCLP, "under Article 14 of the Agreement, RusHydro claims that Electric Power Plants OJSC, the Kyrgyz state-owned company, acquire its shares in the joint venture company Upper-Naryn Hydro Electric Power Plants and that the Kyrgyz Republic reimburse RusHydro’s costs incurred in connection with the project on construction of Upper-Naryn hydroelectric power plants cascade in Kyrgyzstan."
On October 31, 2018, RusHydro submitted its statement of claim to the respondent and the arbitrators. The Kyrgyz Republic has until April 15, 2019 to to file its statement of defense.
Bryan Cave Leighton Paisner’s cross-border team representing RusHydro includes London-based Partner George Burn and Moscow-based Counsel Yury Babichev and Associate Tuyana Molokhoeva in Moscow.
According to Yury Babichev, “foreign investors often choose international arbitration for resolution of disputes with host states. Investors from Russia and the CIS/EEU are no exception, as they increasingly resort to international arbitration to protect their rights violated by respondent states.”