Dr. of Laws Anna Tsirat was appointed by the Tribunal (the same arbitrators for two cases) at the Permanent Court of Arbitration to be an expert in two international investment law cases: Aeroport Belbek LLC and Mr. Igor Valerievich Kolomoisky v. The Russian Federation and PJSC CB PrivatBank and Finance Company Finilon LLC v. The Russian Federation.
In both cases she was asked to give her opinion as to some questions of Ukrainian investment law.
Arbitral proceedings under the both cases were commenced against the Russian Federation pursuant to the Agreement between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments, dated 27 November 1998 (“Ukraine-Russia BIT”), under the UNCITRAL Arbitration Rules 1976.
In the first case the Claimants claim that the Russian Federation breached its obligations under the Ukraine-Russia BIT by taking measures, as of February 2014 that deprived the Claimants of their property, contractual and other rights to operate a passenger terminal for commercial flights at the Belbek International Airport in Crimea, while in the second one the Claimants assert that the Russian Federation breached its obligations under the Ukraine-Russia BIT by taking, as of February 2014, measures that prevented them from operating their banking business in Crimea.
The Russian Federation did not appoint any representatives in any case, indicating, inter alia, that the “[Ukraine-Russia BIT] cannot serve as a basis for composing an arbitral tribunal to settle [the Claimants’ claims]” and that it “does not recognize the jurisdiction of an international arbitral tribunal at the [PCA] in settlement of the [Claimants’ claims].”
On 13 July, 2016 Anna Tsirat presented her expert’s opinion at the Tribunal in both cases.
If there are any procedural steps taken by the Tribunal the respective press releases will be issued and published on the website of the Permanent Court of Arbitration.