DY Chandrachud is Russia's arbitrator in banking dispute with Ukraine
What's the story
Former Chief Justice of India (CJI) D.Y. Chandrachud has been appointed by Russia as its arbitrator in an investment treaty dispute with Ukrainian state-owned bank Oschadbank. The case concerns claims over the bank's assets and operations in regions of Ukraine affected by Russian military action. It is being heard under a 1998 bilateral investment treaty between Ukraine and Russia, according to Bar and Bench.
Case specifics
Dyala Jimenez to head tribunal
The three-member tribunal will be headed by Costa Rican arbitrator Dyala Jimenez, a former trade minister. Jimenez was jointly selected by Russia and Oschadbank.
The other two members are Greek arbitrator Stavros Brekoulakis, a National University of Singapore professor appointed by Oschadbank, and Russia-appointed Chandrachud.
The dispute centers on assets in Donetsk, Luhansk, Kherson, and Zaporizhzhia that Oschadbank claims to have lost due to Russian military action after the full-scale invasion of Ukraine in 2022.
Arbitrator's stance
Chandrachud previously declined similar requests from Russia
Notably, Chandrachud had previously turned down Russia's requests to be its arbitrator in separate treaty disputes with German energy company Wintershall Dea and Ukrainian energy company Ukrenergo.
The requests were made on the same day the Permanent Court of Arbitration appointed him as the appointing authority in the Wintershall proceedings.
He later resigned from that position after revealing communications from Russia.
However, this time around, he has agreed to serve as Russia's nominee on the three-member tribunal for Oschadbank's case.
Legal counsel
Case part of larger trend of investment disputes
Oschadbank is represented by Quinn Emanuel Urquhart & Sullivan partners Epaminontas Triantafilou and Alex Gerbi, along with Asters partners Oleksiy Didkovskiy, Andrii Pozhidayev, and Oksana Legka.
Russia is represented by Pinna Goldberg partner Andrea Pinna, counsel Pratyush Panjwani, and senior associate Dimitrios Papageorgiou.
The case comes against the broader backdrop of investment disputes arising from Russia's military actions in Ukraine, and the resulting loss of Ukrainian businesses and assets in territories under Russian control.