Article
Russian Court Upholds LCIA Arbitration Clause In VTB v JP Morgan
A Russian commercial court's decision to uphold an LCIA arbitration clause in a dispute between VTB Bank and JP Morgan Chase marks an unusual departure from recent trends where Russian courts have asserted jurisdiction over sanctioned parties. The case raises questions about whether this signals a shift in approach or simply reflects the specific procedural circumstances where VTB chose not to contest the jurisdictional application after losing its English appeal against an anti-suit injunction.
Barnes Law