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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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AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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