BGP Litigation partner Alexander Vaneev speaks with Kommersant FM about Oleg Deripaska's chances of obtaining compensation as a result of legal action filed against Montenegro
08.12.2016

"There is a chance that Deripaska will ultimately be paid that compensation, says Alexander Vaneev, a partner at BGP Litigation.

"International investment arbitration awards are well within the scope of the 1958 New York Convention on Recognition and Enforcement of Foreign Arbitral Awards. Of course, taking such an award to the courts of the country itself would hold little promise. But that doesn't mean such an award can't be recognized and enforced in any other state where Montenegro has assets that are not protected by diplomatic immunity, he emphasizes. "In that case the investor, be it a company or an individual, can apply for recognition and enforcement of the foreign arbitral award. Interim measures in the form of seizure of the property can then be obtained, and, finally, execution and levy on the defendant's assets"".

The full article (in Russian) is available here: "Черногорские издержки Олега Дерипаски".

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