Hearings on Oschadbank’s claim against the Russian Federation in connection with the total destruction of the bank’s investments in Crimea after the annexation of the peninsula started in Paris on March 27, according to a press release of the bank.
According to the report, the titled arbitration tribunal includes royal lawyer (presiding) David A.R.Williams, judge Charles N. Brower and Hugo Perezcano Diaz.
The position of Oschadbank is represented by the following external legal advisers: Quinn Emanuel Urquhart & Sullivan LLP and the Ukrainian law firm Asters.
The hearings are held at the International Chamber of Commerce (ICC). It is expected they will last up to three days. Russian representatives refused to participate in the hearings.
“Oschadbank makes every effort to form a strong position and fully submit its lawsuit against the Russian Federation. The case file contains more than 4,000 pages, and the evidence base contains a full and reasoned confirmation of the bank’s legal position. Oschadbank’s claim is the first claim for asset losses in Crimea, which will be heard not only with respect to jurisdiction, but also in essence and evaluation of losses,” the Oschadbank press service said, citing chairman of the financial institution Andriy Pyshny.
