Partner Ramūnas Audzevičius and associate Denis Parchajev contributed an article “Russian Arbitration reform through the lens of Lithuanian Law on Commercial Arbitration” for the annual arbitration law journal of Lithuania “Arbitražas. Teorija ir praktika 2017”.
Article analyses Russian Arbitration reform from the standpoint of Lithuanian Law on Commercial Arbitration. Authors pinpoint the most salient novelties of the reform and compare them against the current regulation in Lithuania.
Despite the fact that Authors praise Russian legislator for the initiative to modernise Arbitration procedure and do away with the outdated and conflicting provisions and practices, some of the new developments raise concern and doubts as to their practical utility.
The comparative analysis of Russian and Lithuanian approaches towards Arbitration shows that even after the Russian arbitration reform, Lithuanian law, in Authors’ opinion, is still more in line with the spirit of the New York Convention and the UNCITRAL Model Law. Authors are proud to conclude that the symbiotic interplay of cohesively developed case law of Lithuanian courts and pro-arbitration model enshrined the Lithuanian Law on Commercial Arbitration had paved the foundation for trust and closer interaction between national courts and arbitration.
For further information please refer here (in Lithuanian only).