“EFFECTIVE USE OF INTERNATIONAL ARBITRATION
AND LITIGATION DURING THE ECONOMIC DOWNTOWN"
SEMINAR HELD IN KYIV
Salans law firm, Kyiv, Ukraine, Monday, July 20, 2009
KYIV - On July 9, 2009 a professional seminar entitled “Effective Use of International Arbitration and Litigation during the Economic Downturn” took place in Kyiv. The event was organized by Salans Kyiv with the support of the U.S.-Ukraine Business Council (USUBC) and SigmaBleyzer in Ukraine. The seminar attracted in-house lawyers and top managers from leading Ukrainian and international companies, investment funds and banking institutions.
In the opening remarks to the seminar, Dr. Edilberto Segura (Partner and Chief Economist of SigmaBleyzer/The Bleyzer Foundation) welcomed the audience and provided an assessment of the current state of the Ukrainian economy and investment climate in the country. Lyudmyla Dudnyk, Programme Director, U.S.-Ukraine Business Council (USUBC), welcomed the seminar’s organizers and participants, including about 30 members of USUBC.
Salans’ speakers included: Brenda Horrigan (Partner, Co-Head of Salans’ International Arbitration Group, Salans Paris), Barton Legum (Partner, Head of Salans’ Investment Treaty Arbitration Practice, Salans Paris) and Myron Rabij (Partner, Head of Salans’ Real Estate Group in Ukraine, Salans Kyiv).
In their presentations, the speakers covered the following topics: “A Dispute Resolution Toolkit for the Time of Crisis”, “Investment Treaty Arbitration: an Option not to be Overlooked” and “Enforcing Arbitral Awards in Ukraine”.
The current global financial crisis has changed the business environment in all sectors of the Ukrainian economy. The commercial setting and context of a contract can alter swiftly and significantly, making legal disputes increasingly relevant. Any actual or potential agreement to which a foreign entity is party needs to be considered with dispute resolution in mind:
Those considering signing an agreement with a foreign party will need to consider whether to choose arbitration, which rules to adopt and which venue to select, as well as how to draft to ensure fairness, efficiency and cost effectiveness, should a dispute arise.
Those who have already put pen to paper will benefit from a greater understanding of how the dispute resolution clause works on a practical level and how to approach discussions from the outset, to ensure optimum protection should matters escalate to a dispute.
Those for whom issues have already arisen will require guidance on the steps to take from the commencement of a legal dispute to the provision of the judgment or award. Appropriate and informed action is vital to the successful enforcement of an arbitration decision in Ukraine and this was one of the focal points of the seminar.
Salans examined dispute resolution from a variety of practical aspects, relevant to all stages of the contractual process. Discussions centered on the importance and effectiveness of including properly tailored dispute resolution clauses in any international contract: “Dispute resolution provisions are used rarely, but ultimately, a contract is only as good as its dispute resolution provision”.
ABOUT SALANS
Salans is an international commercial law firm built on a pioneering spirit with 21 offices worldwide. Salans LLP has offices, or is associated with Salans offices in: Almaty, Baku, Barcelona, Beijing, Berlin, Bratislava, Bucharest, Budapest, Frankfurt, Hong Kong, Istanbul, Kyiv, London, Madrid, Moscow, New York, Paris Prague, Shanghai, St. Petersburg, and Warsaw.
Salans has been active in Ukraine since 1988. Salans is ranked as a top tier law firm in Ukraine and globally by the leading international legal directory Chambers Global. For more information please visit www.salans.com. Salans is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C..
ABOUT USUBC
The U.S.-Ukraine Business Council (USUBC) is a private, non-profit trade association, headquartered in Washington, D.C., representing the interests of over 100 businesses active in Ukraine. For more information please visit www.usubc.org.
ABOUT SIGMABLEYZER
SigmaBleyzer is one of the largest and most experienced private equity funds in Eastern Europe. SigmaBleyzer is focused on investing in regions that are making the transition to free market economies – especially countries of the Former Soviet Union and Eastern Europe. For more information please visit
www.sigmableyzer.com.
CONTACT: Irina Batmanova, Business Development and Marketing Manager, Salans, 49-A, Volodymyrska Street, 2nd floor, 01034 Kyiv, Ukraine,
Phone: +380 (44) 494 4774, Fax: + 380 (44) 494 1991, e-mail: ibatmanova@salans.com., www.salans.com
