International Law Firm Integrites Holds Workshop on International Arbitration

On 15 December 2011 the Integrites law firm, together with Edwards Wildman Palmer UK LLP and George Z. Georgiou and Associates, organized a workshop: “International Arbitration: How To Protect Assets In Foreign Jurisdictions” which took place at the Business Club Belgravia in Kiev.

The speakers of the workshop were: Maksym Kodunov, counsel of ILF Integrites (Kiev), Rod Cowper, partner of Edwards Wildman Palmer UK LLP (London), George Georgiou, managing partner of George Z. Georgiou and Associates (Nicosia).

The speakers came up with a new perspective for arbitration and revealed new opportunities for successful arbitral proceedings.

Maksym Kodunov drew attention to the hidden opportunities of international arbitration for business in terms of arbitrability of disputes; multi-party arbitration; choice of seat of arbitration. According to the speaker, knowledge of the jurisdiction of the dispute, as well as knowledge of the country the arbitrators practice in offer additional opportunities for successful arbitration. He also pointed out the necessity of setting the right goals in the choice of arbitration institution, something that will help to save costs. Mr. Kodunov shared his observations that recently the majority of corporate and financial disputes are being resolved at the London International Court of Arbitration (LCIA).

Rod Cowper commented on the power of English courts to grant interim measures in support of arbitration proceedings and highlighted the major procedural aspects of arbitration, in particular: the appointment of arbitrators, the exchange of written submissions, collection and evaluation of evidence, the costs of arbitration.

The speakers gave examples of how the procedure works in the countries of the British Commonwealth they represent. For instance, George Georgiou specified that in Cyprus the translations of documents filed to a court should be attached with affidavits by the official translator of documents.

In his turn, George Georgiou also told participants of the workshop about the specifics of the application for interim measures and asset tracing in Cyprus. He dealt with grounds for refusal of enforcement and recognition of arbitral awards.

The workshop was attended by 60 guests from Kiev and Ukraine. Guests of the workshop included representatives of Galychyna, Mriya, EpiCentr, XXI Century, Kernel, UkrSibBank, Sberbank, VTB Bank, Raiffeisen Bank Aval, Slavutich, Aerosvit, “1+1”, Ukrprodukt, life:), Antonov, Ukrlandfarming PLC, Altcom, Velyka Kyshenya, IFC, DTEK.

The event was supported by media partners: American Chamber of Commerce in Ukraine, business portal Finance.ua, Yuridicheskaya Practika Weekly, Ukrainian Attorney Journal, Ukrainian Lawyer Magazine, The Ukrainian Journal of Business Law.