Russian Arbitration Law Reform
Russia has significantly revised its arbitration laws by adopting two Federal Laws (hereinafter referred to as “Arbitration Laws”)1, which came into effect on September 01, 2016.
The main aim of the arbitration reform in Russia was elimination of so-called “pocket” arbitration institutions and improvement of overall quality of arbitration process in Russia. Among the innovations brought by the Arbitration Laws are elimination of uncertainty over arbitrability of corporate disputes and requirement for obtaining permits by permanent arbitration institutions. Pursuant to the reform, it is now possible to enter into arbitration agreement in respect to corporate disputes starting from February 01, 2017.
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