UKRAINE Law and Practice Contributed by: Olena Perepelynska, Krystyna Khripkova, Nadiya Mykiyevych and Anna Kozyrieva, IMPACTA LAW
tral tribunal may award. The tribunal may grant any remedy within the scope of the parties’ claims and applicable substantive law. 10.3 Recovering Interest and Legal Costs Under Ukrainian law, parties may recover interest and legal costs, subject to the parties’ agreement and the tribunal’s assessment of the case. Ukrainian law does not set a restrictive interest rate and it is not unusual for the parties to claim simple interest accruing both pre- and post-award until payment, based on applica - ble substantive law (eg, Article 625 of the Civil Code of Ukraine). In practice, arbitral tribunals often apply a costs-fol - low-the-event approach, ordering the unsuccessful party to bear all or a substantial portion of the costs. However, tribunals retain discretion to allocate costs differently depending on the circumstances of the case. Arbitral awards are not subject to appeal on the merits in Ukraine. The only available recourse is an applica - tion to set aside the award on the limited grounds exhaustively listed in Article 34 (2) of the ICA Law and Article 459 (2) of the CPCU, which largely mirror Article 34 of the UNCITRAL Model Law. These grounds are the following: • if the party making the application furnishes proof that: (a) a party to the arbitration agreement was under some incapacity; or the said agreement is not valid under the law to which the parties have subjected it or, failing any indication thereon, under the law of Ukraine; or (b) the party making the application was not given proper notice of the appointment of an arbitra - tor or of the arbitral proceedings or was other - wise unable to present its case; or 11. Review of an Award 11.1 Grounds for Appeal (c) the award deals with a dispute that was not contemplated by or not falling within the terms of the arbitration agreement, or contains deci - sions on matters beyond the scope of the
arbitration agreement; or (d) the composition of the arbitral tribunal or the arbitral procedure was not in accordance with the agreement of the parties, unless such agreement was in conflict with a mandatory provision of the ICA Law or, failing such agree - ment, was not in accordance with the ICA Law; or • if the court finds that: (a) the subject matter of the dispute is not capable of settlement by arbitration under the law of Ukraine; or (b) the award is contrary to the public policy of Ukraine. An application to set aside the arbitral award must be filed within three months of the day of receipt of the award by the party, or, if a party asked the tribunal to correct or interpret the award or to render a supple - mentary award – from the day of issuing the decision on such matters (which becomes an integral part of the arbitral award) or supplementary award. The CPCU lists the information to be specified in the application for setting aside, in particular: • the name of the court; • the names and details of the applicant and of the parties to the arbitration proceedings (their repre - sentatives); • the name (if any) and composition of the arbitral tribunal that rendered the award; • information about the award: its number, the date and the place where the award was rendered, sub - ject matter of the dispute, the operative part of the award and the arbitration rules applicable; • the date when the party applying for setting aside received the arbitral award; • the grounds for challenge; • the relief sought; • a list of documents and materials attached to the application. Importantly, the application, among other things, shall be supplemented by the original or a duly notarised copy of the arbitral award and the original or a duly notarised copy of the arbitration agreement, whether it be a separate arbitration agreement or a contract,
1114 CHAMBERS.COM
Powered by FlippingBook