On 23 October 2017 the Committee on Alternative Dispute Resolution of the Ukrainian Bar Association (UBA) with the participation of partners and lawyers of leading law firms in Ukraine, representatives of the International Commercial Arbitration Court and the Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry (hereinafter – the ICAC and the MAC at the UCCI), as well as the Ukrainian Arbitration Association (UAA), discussed the novelties of the Rules of the ICAC at the UCCIas well as trends and novelties of the rules of the leading arbitral institutions.
Speakers of the meeting were as follows:
- Moderator – Pavlo BYELOUSOV, member of the Council of UBA’s ADR Committee, head of international arbitration practice at “AEQUO” law firm;
- Sergiy GRYSHKO, partner, head of dispute resolution practice at “Redcliffe Partners” law firm;
- Tetiana ZAKHARCHENKO, Vice President and Member of the Presidium of the ICAC and MAC at the UCCI;
- Olga KOSTYSHYNA, Adviser to the President of the ICAC at the UCCI;
- Sergiy UVAROV, Secretary General of the Ukrainian Arbitration Association, a member of the Council of UBA’s ADR Committee, head of dispute resolution practice at “AEQUO” law firm.
The meeting participants had the opportunity to get detailed answers from the “authors” and the professional opinion of experts in the field of dispute resolution regarding the new Rulesand their further application. Tetiana ZAKHARCHENKO and Olga KOSTYSHYNA presented key provisions and novelties of the Rules, including the section on “Interim Measures”, the expedited arbitral proceedings, the status of witnesses and the category of experts. Sergiy GRYSHKO and Sergiy UVAROV spoke about the opportunities and challenges for the implementation of the new Rules by the arbitrators and party representatives. They also proposed an unconventional approach to the interpretation of the novelties of the Rules and presented trends in the rules of the leading arbitral institutions.
Tetiana ZAKHARCHENKO commented on the work on the new ICAC Rules: “Work on the project was started in 2013. When starting the development of a new version of the Rules, the Presidium of the ICAC at the UCCI set itself the task of increasing the efficiency of arbitral proceedings in order to make the arbitral proceedings faster, more cost efficient and comfortable for the parties.”
Olga KOSTYSHYNA noted: “The new Rules have been developed taking into account the world tendencies in arbitration and the reform of the procedural legislation of Ukraine, which allows to effectively resolve foreign economic disputes within the competence of the ICAC at the UCCI.”
About the ICAC
- ICAC is the flagship among arbitration institutions in Eastern Europe and is the world-recognized arbitration institution.
- The ICAC accepts for consideration 300-600 cases annually. During the last 5 years, 2905 cases have been accepted for consideration of the ICAC.
- Representatives on the average from 50-55 countries of the world are parties to cases.
- ICAC cooperates with arbitration institutions of 18 countries and is a member of authoritative relevant associations, in particular ICC Central and Eastern European Institutional Arbitration Group (CEEAG), the International Federation of Commercial Arbitration Institutions (IFCAI), the Advisory Board of Council of Heads of CCI of CIS Member States in the field of international commercial arbitration. ICAC is included into the list of organizations which are invited to the sessions held by UNCITRAL and may present their views on matters considered by the United Nations Commission on International Trade Law.