On 14 September 2017 the ICAC at the Ukrainian CCI gathered friends as well as international legal and business community at the IV International Arbitration Readings in memory of Academician Igor Pobirchenko to discuss modern challenges in the field of international arbitration in the Eastern European region and in the world.
IV International Arbitration Readings have become in recent years the most visited event of the ICAC bringing together over 300 participants from 16 countries, representatives of all branches of government, Ukrainian and international experts and arbitrators.
The ICAC’s activities are aimed at opening broader opportunities for business and developing international arbitration in Ukraine. Over the past year, the ICAC, meeting the requirements of business and time, has strengthened international cooperation with business-relevant jurisdictions, in particular Bulgaria and China, extended the list of arbitrators, drafted new versions of the ICAC and MAC Rules, proposed a new edition of the ICAC systematized practice on foreign economic disputes consideration, as well as presented an updated brand of the ICAC to the users of its services.
1. Enhancement of international cooperation
The ICAC, while remaining the only body that represents Ukraine on arbitration matters in the work of the United Nations Commission on International Trade Law (UNCITRAL) and taking an active part in the work of a number of other authoritative international arbitration organizations, expanded international cooperation in 2017 and concluded an updated cooperation agreement with the Arbitration Court at the Bulgarian Chamber of Commerce and Industry.
The agreement of cooperation with the China International Economic and Trade Arbitration Commission (CIETAC) has also been signed, which will be of exceptional practical importance for Ukrainian and Chinese business in the context of the One Belt & One Road Initiative.
2. Extension of the list of arbitrators
The Recommendatory List of Arbitrators of the ICAC at the Ukrainian CCI has been extended for the last period and now includes 118 arbitrators from 33 countries (more than 53% of whom are foreigners) who are able to independently, impartially and professionally consider disputes.
3. New Rules
Mykola SELIVON, President of the ICAC at the Ukrainian CCI, presented the new Rules of the ICAC and MAC at the Ukrainian CCI, which will be effective as of 1 January 2018. Mykola SELIVON noted: “Each state should actively work at creation of an arbitration-friendly climate, since it directly affects its image in the eyes of the international community. The image of the Ukrainian arbitration is growing every year. We are constantly taking steps to improve our activities, in particular by improving the arbitration process, introducing the latest technologies and creating maximum comfort for users of our services. This is what the new Rules are aimed at.”
A QUARTER-CENTURY ANNIVERSARY
Colleagues, friends and public officials, in particular Oleksiy FILATOV, Deputy Head of the Presidential Administration of Ukraine, Bogdan LVOV, Chairman of the Supreme Economic Court of Ukraine, Oleksiy PEREVEZENTSEV, State Secretary of the Ministry of Economic Development and Trade of Ukraine and Ruslan SYDOROVYCH, People’s Deputy of Ukraine, Member of the Verkhovna Rada Committee on legal policy and justice, congratulated the ICAC on its anniversary.
As it was noted by Oleksiy FILATOV, Deputy Head of the Presidential Administration of Ukraine and Coordinator of the Council on Judicial Reform, in his speech: “Adoption of the new procedural legislation will give the international commercial arbitration in Ukraine many new tools that should enhance its effectiveness and contribute to its development. These are the improvement of the procedure for recognition and enforcement of awards of international commercial arbitration, and – the most important – the support of international commercial arbitration by state courts: the draft law provides for the securing of a claim referred to international commercial arbitration, the provision of evidence in arbitration, and other tools which will make this process more efficient.”
“The establishment of the International Commercial Arbitration Court in our country was a requirement of modern life. From the first days of its professional activity, the ICAC plays an important role in affirming the rule of law and justice, contributes to the development of Ukraine as a democratic and legal state. It is the persistent labor that the reliability of the legal protection of business entities depends on, and, consequently, the stability and economic prosperity in the society,” Oleksiy PEREVEZENTSEV said.
“The activities of the ICAC at the Ukrainian CCI are the spectacular example of the successful operation in Ukraine of an alternative procedure of disputes resolution between business entities. The greatest achievement of the ICAC is the preservation of the professional arbitrators’ manpower,” Bogdan LVOV, Chairman of the Supreme Economic Court of Ukraine, said.
From the legislative branch the ICAC at the Ukrainian CCI was congratulated by Ruslan SYDOROVYCH, People’s Deputy of Ukraine. He noted that the ICAC is almost the same age as the independence of our country, therefore it plays an extremely important role in the formation of Ukraine as a state of law, the establishment of the principles of the rule of law and standards of work. As he put it, the ICAC provides investment attractiveness of the country for both foreign and domestic investors.
“For 25 years of its activity, the ICAC at the Ukrainian CCI has already become a recognizable Ukrainian brand, which for the above period has considered more than 10,000 foreign economic disputes. 25 years is not only a summary of activities, but also the determination of new goals and new heights to be achieved. I wish the ICAC to continue to develop and increase the competitiveness of the arbitration institution, becoming one ranking with other arbitration centers in Western Europe and Asia,” Gennadiy CHYZHYKOV, President of the Ukrainian CCI, said.
Statistics show that the ICAC at the Ukrainian CCI enjoys great confidence among business representatives. ICAC is the flagship among arbitration institutions in Eastern and Central Europe in terms of the number of foreign economic disputes considered. Such results were reached due to experience of the arbitrators recommended in the field of arbitration by authoritative international ratings, professionalism of the ICAC Secretariat, as well as clear and transparent dispute resolution procedure. The ICAC will continue to bring in its activities leading international standards in the field of arbitration.
Within the framework of the events dedicated to the 25th anniversary of the ICAC at the Ukrainian CCI, the IV International Arbitration Readings in memory of Academician Igor Pobirchenko on the topic of: “International Commercial Arbitration: Modern Challenges” took place. The first session of the Readings was devoted to discussion of current requirements to arbitration, and the second – to open discussion about arbitration agreement and replacement of the parties in obligation, the effect of the arbitration agreement on non-signatories. Arbitrators of the ICAC at the Ukrainian CCI Kai HOBER and Tatyana SLIPACHUK – moderators of the sessions – brilliantly held their sessions, involving the audience in the debate of the above issues.
During Session I of the Readings the participants got acquainted with speech of:
Annette MAGNUSSON, Secretary General of the Arbitration Institute of the Stockholm Chamber of Commerce, on “Requirements to Arbitration from the point of Business”;
Jian CHEN, Director of International Case Management of CIETAC, on “New Challenges and Opportunities for CIETAC in the context of the One Belt & One Road Initiative” and “Enforcement of the arbitral award in China”;
Sergiy GRYSHKO, arbitrator of the ICAC at the Ukrainian CCI and partner at Redcliffe Partners on the topic: “Reform of procedural legislation in Ukraine and arbitration: an unmissable opportunity or a bitter failure?”;
Alexandre KHRAPOUTSKI, arbitrator of the ICAC at the Ukrainian CCI of and partner at Sysouev, Bondar and Khrapoutski law office, regarding the “Implementation of the principles of the inquisitorial procedure by arbitration as a mechanism for reducing its terms and costs”;
Stephan WILSKE, arbitrator of the ICAC at the Ukrainian CCI and partner at Gleiss Lutz on the topic: “Does international arbitration still dwell in an ethical no-man’s land? – Some hope!”, and
Liudmyla VYNOKUROVA, Vice President of the ICAC at the Ukrainian CCI, arbitrator and Associate Professor of the chair of Economic Law of Taras Shevchenko National University of Kyiv, regarding “Doctrine of “unexpected decision” in international commercial arbitration”.
Session II of the Readings was held in a new format for the ICAC at the Ukrainian CCI – by way of open discussion, since the topic of arbitration agreement and replacement of the parties in obligation, the effect of the arbitration agreement on non-signatories aroused great interest both among the audience as well as among those wishing to be reporters on this issue. The above issue was discussed with the audience by the speakers of Session II:
Pavlo BYELOUSOV, arbitrator of the ICAC at the Ukrainian CCI and counsel at AEQUO law firm;
Rouja IVANOVA, Vice President of the Arbitration Court at the Bulgarian Chamber of Commerce and Industry;
Oksana KAREL, head of the international dispute resolution practice and arbitration, senior associate at Arzinger law office;
Oleksiy KOT, managing partner at Antika law firm;
Yaroslav PETROV, counsel at Asters law firm;
Alice FREMUTH-WOLF, Deputy Secretary General of the Vienna International Arbitral Centre of the Austrian Federal Economic Chamber.
The 25th anniversary of the ICAC at the Ukrainian CCI has become an excellent opportunity for arbitrators of the ICAC, experts, scientists and practitioners from different countries to exchange experience, get acquainted with the Ukrainian arbitration model, Ukrainian and foreign procedural legislation and celebrate the anniversary of the Court in a warm and friendly atmosphere.