Clifford Chance
Hong Kong International Arbitration Centre wins approval to become the first foreign arbitral institution to administer disputes in Russia
30 April 2019
Following the important development of the new arrangement between Hong Kong and Mainland China which means that parties can apply to Mainland courts for interim measures in support of Hong Kong arbitral proceedings, the Hong Kong International Arbitration Centre (HKIAC) has now enhanced its position in relation to Russian related disputes. The HKIAC has become the first foreign arbitral institution to be designated as a "permanent arbitral institution" (PAI) in Russia following approval granted by the Russian Ministry of Justice. Most significantly, this means that the HKIAC can now administer international commercial arbitrations seated in Russia as institutional rather than ad hoc arbitrations and certain corporate disputes relating to Russian legal entities.
