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Eterna Law

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Almaty, Kiev, Moscow

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AstapovLawyers was named in Top-3 firms in International Arbitration

March 2010

AstapovLawyers as well as Mr. Andrey Astapov were named as Top-3 among law firms and leading individuals in International Arbitration Practice by Handbook for Foreign Clients 2010 - a distinctive publication on Ukrainian legal market recently published by Yuridicheskaya Practika Publishing House.

The publication comments: "AstapovLawyers enjoyed a busy year for its international arbitration practice. Led by managing partner Andrey Astapov the team handled various projects: representation of major Ukrainian metallurgical comlexes against defendants from Hong Kong and Liechtenstein; Donetsk Electrometallurgical plant against MRHK Limited; the major Russian trader of grains ROSINTERAGROSERVIS against a buyer from Egypt; a Ukrainian producer of metallurgy products in an arbitration process against a customer from Hong Kong, etc. The company has extensive experience of representing clients in FOSFA and GAFTA (London), the International Commercial Arbitration Court at the RF Chamber of Commerce and Industry, ICAC and MAC at UCCI, etc."

Mr. Andrey Astapov, AstapovLawyers Managing Partner, outlined: "The year 2009 saw a dramatic rise in the number and overall amount of arbitration cases brought to permanent arbitration institutes in Ukraine (mainly to the International Commercial Arbitration institutes in Ukraine). The majority of such cases are, as always, sale and delivery disputes with non-payment and non-delivery due to hardship being the main issue. Some important corporate disputes were also heard as were some large-scale JV disputes. It is worth noting that the crisis has put an end to a number of a long-term sale, franchising, JV agreements giving birth to important cases. Following the above pattern a number of large-scale corporate disputes between non-resident shareholders but related to assets located in Ukraine went to LCIA, ICC, SCC and other major international arbitration centers, as the investment community still regards Ukraine as unsuitable for large-scale disputes for a number of reasons. This attitude not only not changed but worsened with the outbreak of the crisis.

Agriculture remained one of the most stable sectors of the Ukrainian economy, but as the world market was highly price - turbulent the number of GAFTA and FOSFA arbitrations involving Ukrainian parties has also risen. This is largely due to non-fulfillment of obligations on a highly volatile market for purely price considerations. Fortunately, the Ukrainian government has not introduced any export barriers, which was the case on a number of previous occasions (2003 and 2008)".

Electronic version of this publication is available here.

To learn more about AstapovLawyers' International Arbitration Practice please see here.

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