Sanofi Aventis Ukraine LLC, part of Sanofi global pharmaceutical company, seeks to file a claim against Ukraine to the International Investment Arbitration.
The Permanent Court of Arbitration in the Hague has said it has jurisdiction to hear the case of a Ukrainian company seeking to recover damages for property lost when Russia annexed Crimea.
Ukraine will use all legal mechanisms seeking invalidation of the international arbitration court’s ruling ordering Ukraine to pay Tatneft $144 million.
Ukraine has settled a dispute with American pharmaceutical company Gilead Sciences Inc., following the company’s pursuit of legal remedies in both domestic courts and via investment arbitration.
Ukranian authorities have now applied to the UK High Court asking to set aside the recent UNCITRAL arbitration award against Ukraine and in favour of JKX.
Russia must bear responsibility for protecting Ukrainian investors in Crimea after its annexation under the Russian-Ukrainian bilateral investment treaty.
Yevgeny Kazmin, a co-owner of Ukraine’s KVV Group, has filed a lawsuit against Latvia with the International Centre for Settlement of Investment Disputes.