SCC Emergency Arbitrator award before the Supreme Court in Ukraine
The Supreme Court of Ukraine recently ordered review of a lower court’s resolution refusing enforcement of an SCC emergency award. The emergency award was rendered to uphold status quo in a dispute over imposition of new taxes by Ukraine. The requested relief was partially granted by the Emergency Arbitrator.
The enforcement had been initially denied by the Ukrainian Appellate instance. However, in a subsequent proceeding in February 2016, the Supreme Court concluded that the court of appeal did not duly take into account the Ukrainian rules of substantive and procedural law. In addition, the Supreme Court noted that the award did not change the scope of the rights and obligations of the parties to the dispute, but only temporarily obliged the State of Ukraine to refrain from certain measures, being valid from its issuance date until the determination of security measures by the main composition of the arbitral tribunal.
The Supreme Court cancelled the resolution and remitted the case to the court of appeal for a new consideration.
The Ukrainian Supreme Court decision might be found here
Unnoficial English translation of the Supreme Court’s Decision has been kindly provided by Anastasiya Grenyuk and Valentyna Pasko of Arbitrade law firm (www.arbitrade.ua). The translation can be read here.