NEWS (November 28, 2018)

Quinn Emanuel Urquhart & Sullivan LLP and Asters score for Oschadbank

Asters has acted as local Ukrainian counsel to JSC Oschadbank, one of the largest financial institutions in the country, in connection with its claim against the Russian Federation for recovery of compensation as a result of the total loss of its investments in Crimea, with Quinn Emanuel Urquhart & Sullivan LLP acting as the lead counsel.

On 26 November 2018 an international arbitral tribunal issued its final award sustaining Oschadbank's claims in full. The amount to be recovered is USD 1.3 billion plus post-award interest. This award has become the first victory of a Ukrainian state-owned company in a matter concerning restoration of Crimea-related rights and interests through an international investment protection mechanism.

Asters' key team working on this project included partner Svitlana Chepurna, senior associates Anna Tkachova and Maryna Golovko under the general supervision of the firm's co-managing partner Oleksiy Didkovskiy.

 

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