On 18 May 2021, the International Court of Arbitration of the International Chamber of Commerce (ICC) and the Singapore International Arbitration Centre (SIAC) were granted the status of permanent arbitral institution (PAI) by the Russian Ministry of Justice. As PAIs, the ICC and SIAC now join the Hong Kong International Arbitration Centre (HKIAC) and Vienna International Arbitral Centre (VIAC) as foreign institutions with the right to administer international commercial arbitrations and certain types of corporate disputes with respect to Russian companies.
Arbitrations in Russia
As a result of arbitration reforms introduced in 2016, only PAIs can administer most arbitrations seated in Russia and certain corporate arbitrations with a seat abroad.
Five Russian arbitration institutions have qualified as PAIs:
- International Commercial Arbitration Court of the Chamber of Commerce and Industry of the Russian Federation (ICAC or MKAS)
- Maritime Arbitration Commission at the Chamber of Commerce and Industry of the Russian Federation (MAC)
- Russian Arbitration Center at the Russian Institute of Modern Arbitration (RAC)
- Arbitration Centre at the Russian Union of Industrialists and Entrepreneurs (AC RUIE)
- National Center of Sports Arbitration at the Sports Arbitration Chamber (NCSA)
Four foreign arbitration institutions now have PAI status:
- Hong Kong International Arbitration Centre (HKIAC)
- Vienna International Arbitral Centre (VIAC)
- International Chamber of Commerce (ICC)
- Singapore International Arbitration Centre (SIAC)
Disputes That Foreign PAIs Are Able to Administer
- international commercial disputes when the seat of arbitration is in Russia
- disputes between residents in a Special Administrative Area when the seat of arbitration is in Russia or another country
- certain categories of Russian corporate disputes (except domestic ones), such as disputes arising from share-purchase agreements, share-pledge agreements, corporate agreements, etc.
Disputes That Foreign PAIs May Not Administer
- those related to the issue of securities
- those related to the establishment, reorganization and liquidation of legal entities
- lawsuits filed by members of a legal entity to recover losses incurred by the legal entity or to declare invalid transactions carried out by the legal entity
- challenges to the decisions of the management bodies of a legal entity
International Arbitration Services
Optima Juris has experienced and trusted stenographers, realtime transcriptionists and interpreters ready to cover in-person or virtual arbitrations in Asia, Europe, and the United States. If you should have any questions about international arbitrations, please do not hesitate to contact us or fill out a free quote to see how we can make your international hearing a complete success.