Laws on Arbitration Reform in Russia Adopted
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- For a long time criticism was levelled at arbitration in the Russian Federation, inter alia, due to activities of “pocket” arbitration tribunals.
- Discussion and preparation of the arbitration reform took two years and was conducted with the active participation of the business society and litigation and arbitration lawyers, including Debevoise & Plimpton attorneys.
- Enactment of the new Laws changed significantly the regulation of arbitration with respect to, in particular, form of arbitration agreements, arbitrability and the procedure for arbitration of corporate disputes, activities of state courts as assisting and supervising bodies for purposes of arbitration, procedure for the creation and functioning of permanent arbitration institutions.