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Pugachev vs. Russian Federation: Arbitration Panel Now Complete

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On October 31, 2016, the Permanent Court of Arbitration (PCA) appointed Eduardo Zuleta Jarmillo as Presiding Arbitrator in connection with the $12 billion claim filed by Sergei Pugachev against the Russian government, the largest BIT claim currently on record.

His appointment now completes the panel that includes Thomas Clay who was appointed by Pugachev in June, and Bernardo Cremades who, by default, was appointed in August by the Secretary-General of the PCA to be the Russian government’s arbitrator.

A team led by IAL network member Benoit Le Bars is representing Sergei Pugachev (see our news item from July 6, 2016).

In addition, as reported in the GAR earlier this week, the Russian government has announced that it will be represented by a White & Case LLP legal team led by David Goldberg.

With the arbitration panel now complete, proceedings are expected to begin very shortly.