CMS advised Tatneft in major investment arbitration against Ukraine
CMS Cameron McKenna in Kiev has acted for major oil company Tatneft in relation to an international investment arbitration against Ukraine over what was perceived as an illegal takeover of the oil refinery Ukrtatnafta in 2007. The arbitral tribunal constituted under 1976 UNCTIRAL Arbitration Rules awarded USD 112 million in damages following the decision that Ukraine had acted unlawfully.
Senior partner Olexander Martinenko acted as an expert witness on the matters of Ukrainian law in the arbitration under the Russia-Ukraine Bilateral Investment Treaty, supported by senior associate Sergiy Gryshko and lawyer Maksym Bugai.