ALUMNI Partners case on Kommersant’s 2022 list of most high-profile litigations

Resolution of disputes between economic players, as well as between them and the government, continues to serve as an economic environment indicator. Kommersant Publishing House has chosen disputes that are seen by its editorial team as particularly noteworthy in 2022. Despite their diversity, they capture the current year’s capital flow trends.

ALUMNI Partners work to protect RusHydro’s interests in a precedent-setting dispute before the HKIAC was recognised in the Cross-border Disputes and International Commercial Disputes category. Congratulations to our colleagues!

Client: PАО RusHydr0

Project value: $37 m.

Law firm: ALUMNI Partners

Key lawyers: Yury Babichev

Case description: ALUMNI Partners successfully acted for RusHydro in an international investment arbitration against the Kyrgyz Republic over reimbursement of costs associated with constructing the Verkhne-Narynsky power plant cascade. The ad hoc arbitration, with a seat in Hong Kong, was held under the 2010 Arbitration Rules of the UN Commission on International Trade Law. The proceedings were administered by the Permanent Court of Arbitration in The Hague.

The dispute arose out of the Verkhne-Narynsky power plant cascade construction and operation agreement signed between the Government of the Russian Federation and the Government of the Kyrgyz Republic in 2012 and denounced by the Kyrgyz side in 2016. Being the authorised representative of the Russian side, Rushydro claimed back from the Kyrgyz Republic $37 m invested in constructing the Verkhne-Narynsky power plant cascade. Owing to the efforts of ALUMNI partners lawyers, the arbitrators allowed almost all RusHydro’s claims.

This project is unique, as it is the first international investment arbitration involving a sanctioned Russian company winning the dispute.