PCA Holds Hearing On Jurisdiction In UNCITRAL Case Filed Against Russia

(August 16, 2016, 10:23 AM EDT) -- THE HAGUE, Netherlands — The Permanent Court of Arbitration (PCA) on Aug. 15 provided an update in an arbitration commenced by a bank and finance company pursuant to the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules against the Russian Federation (PJSC CB PrivatBank, et al. v. Russian Federation, No. 2015-21, PCA).

The PCA said that as previously reported March 30, the tribunal issued a procedural order in the arbitration between PJSC CB Private Bank and Finance Company Finilon LLC and the Russian Federation,...
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