Justice Ministry to increase number of arbitration courts in Russia
MOSCOW, April 5 (RAPSI, Kirill Ryabchikov) – The Justice Ministry’s arbitration council has recommended to include two organizations, the Hong Kong International Arbitration Centre and the Arbitration Chamber for Sport, in Russia’s list of arbitration courts, Deputy Justice Minister Denis Novak has said during the council’s meeting.
The council chaired by Novak has therefore accepted the claimants’ applications to enter the list of organizations acting as arbitration courts for the first time after certain changes took place in the arbitration field in Russia in 2017.
Since that moment, 6 arbitration courts will act in Russia, according to Novak.
The Hong Kong International Arbitration Centre (HKIAC) is the first international arbitration court decided to enter upon the Russian arbitration field. The organization was established in 1985 and is one of the leaders in the arbitration sphere. Since its foundation, the HKIAC has considered more than 10,000 disputes totaling over $7 million.
However, the Centre is not going to consider internal corporate disputes and open a representative office in Russia, but it has a database including 35 Russian-speaking arbitrators, and Russia’s permit is required for the general confession of the court’s enforcement order within the country.
The second organization, the Arbitration Chamber for Sport, by its nature is an arbitration court established through the Russian Olympic Committee. Its establishment has been directly set in existing sports legislation. According to the law and international treaties, Russia must have a national internal dispute resolution institution for sport.