Ukrainian recognition and enforcement of SCC emergency arbitration award. Translation now available
Earlier this year, the Kyiv City Court of Appeal, after High Specialized Court of Ukraine for Civil and Criminal Cases had previously remitted the case for new consideration, confirmed the recognition and enforcement of the SCC Emergency Arbitration Award against the Ukraine (reported earlier). An English translation of the decisions is now available.
Previously, the Kyiv City Court of Appeal had refused to recognize and enforce the award on the ground of the violation of public policy. It concluded that the emergency arbitration award concerned the change of tax rate – an issue that should be determined exclusively in accordance with the Tax Code of Ukraine.
In the May 2016 decision, the Appeal Court took a different view and concluded i.a. that the award did not impact the taxation system in Ukraine. The Appeal Court found no grounds to refuse the recognition and enforcement.
In June 2016 the High Specialized Court of Ukraine for Civil and Criminal Cases, after a cassation appeal by the Ministry of Justice, reopened the review procedure for the case. The outcome of the enforcement and recognition proceedings in Ukraine is therefore not yet final.
The Kyiv City Court of Appeal decision may be found here.