Thanks to the support of KIAP, HKIAC received permission to operate in Russia
KIAP, Attorneys at Law, assisted The Hong Kong International Arbitration Centre (HKIAC) in obtaining permission to function as a permanent arbitral institution in Russia (PAI). The Center became the first foreign arbitral institution permitted to administer disputes in Russia.
Anna Grishchenkova, partner of dispute resolution and international commercial arbitration practice, assisted HKIAC in preparing all the necessary documents to obtain the status of the PAI in Russia. In addition, Anna, together with the Secretary-General of the Center Sarah Grimmer, participated in the meeting of the Council for the Improvement of Arbitration, which considered the HKIAC application for this status. Since 2016 Anna is arbitrator of HKIAC and regional ambassador from Russia in the HK45 committee at the HKIAC.
Following the Russian arbitration reform introduced in September 2016, institutional arbitrations seated in Russia and arbitrations concerning certain types of corporate disputes in respect of Russian companies can only be submitted to a PAI as defined in the Federal Law.
The requirement for a foreign arbitral institution to acquire the status of a PAI is that the institution must possess a “widely recognized international reputation” which is assessed based on a set of criteria adopted by the Ministry of Justice.
As a PAI, HKIAC will become the first international arbitral institution authorised to administer (i) international disputes seated in Russia; (ii) disputes between parties from any special administrative region as defined under Russian law or disputes arising from agreements to carry out activities in any such region; and (iii) certain types of corporate disputes in respect of a legal entity in Russia (Article 45(7) and (7.1) of the Federal Law and Article 225.1 of the Russian Arbitral Procedure Code):
With growing economic activity between Russian and Asian parties, HKIAC is emerging as a preferred institution for disputes involving Russian parties. The HKIAC Administered Arbitration Rules are available in the Russian language and 35 Russian-speaking arbitrators are listed on HKIAC’s various panels of arbitrators. HKIAC operates primarily from a jurisdiction that has not imposed sanctions against Russian entities and Hong Kong does not require visas for Russian visitors. With its status as a PAI under Russian law, HKIAC is committed to providing its dispute resolution services to a broad range of Russia-related disputes in accordance with the Federal Law.