Interim Relief Allowed For Enforcement Of Foreign Judgements And Arbitral Awards

On 22 September 2011 the Parliament of Ukraine adopted the Law amending the Civil Procedural Code of Ukraine (the "Code") to provide for interim measures in the course of recognition and enforcement proceedings with respect to foreign court judgements (the "Interim Measures Law"). The same legal framework applies to the recognition and enforcement of arbitral awards rendered by international arbitration tribunals outside of Ukraine.

The Interim Measures Law introduces an important innovation to the Code by stipulating that a winning party requesting a state court to grant enforcement to a court judgement or an arbitral award issued abroad may also apply for interim measures. Such interim measures may be granted by a state court at any time during consideration of the enforcement application provided that the absence of certain interim measures of protection may significantly complicate future enforcement or make it impossible.