Maximov v Open Joint Stock Company Novolipetsky Metallurgichesky Kombinat 2017 EWHC 1911 Comm - 27 July 2017
Country
Year
2017
Summary
This has been an application to enforce an award of the International Commercial Arbitration Court of the Chamber of Commerce and Industry of the Russian Federation ('ICAC') made by three distinguished Russian arbitrators, IS Zykin as Chairman, VS Belykh and KI Devyatkin (by a majority, but the dissent was in a minor, and in the event immaterial, respect only as to approximately 1% of the quantum) in the sum of RUB 8,928,001,875.70 plus interest. The Award was set aside by an order by Judge N.V. Shumilina of the Moscow Arbitrazh (i.e. Commercial) Court on 21 June 2011, which was upheld on appeal by the Federal Arbitrazh Court of Moscow District ('FAC') on 10 October 2011, and permission to appeal was refused on paper by the Supreme Arbitrazh Court of the Russian Federation ('SAC') on 30 January 2012. The Claimant seeks its enforcement, notwithstanding, by this Court, pursuant to the New York Convention, and at common law.