UBA conducted a discussion on the seizure of Russian assets and property in Ukraine
The Committee on Alternative Dispute Resolution (ADR) of the Ukrainian Bar Association held an event "Investment Claims Arising from the Russian Aggression: Sword and Shield for Ukraine." The discussion focused on international investment law and the practice of foreign investment tribunals.
The meeting was moderated by Oleksandr Volkov, Chair of the Committee on ADR, Partner at Asters. Participants included:
- Anna Tkachova, Counsel at Asters;
- Hanna Tyshchenko, Director of the Department of International Cooperation and Representation of the Ministry of Justice of Ukraine;
- Yuri Parkhomenko, Partner at Foley Hoag LLP, Boston, USA;
- Epaminontas E. Triantafilou, Partner at Quinn Emanuel;
- Yaroslav Lyubchenko, Acting Head of the National Agency on Corruption Prevention of Ukraine;
- Oleksandr Maksymenko, Head of the Investment Protection and Specialization Implementation Department at the Office of the Prosecutor General of Ukraine;
- Yevhen Kruk, Judge of the High Anti-Corruption Court of Ukraine;
- Iryna Bryliant, Member of the UBA Board, Managing Partner at BRYLIANT LAW GROUP.
Experts discussed the issue of seizing Russian assets through the lens of international law. During the discussion, the unique situation for Ukraine was emphasized, as it has to address the application of new mechanisms in the conditions of a full-scale war, which is still ongoing and whose final outcome remains unknown.
It was noted that as of the beginning of February 2024, the Ministry of Justice of Ukraine had filed 40 lawsuits with the High Anti-Corruption Court (HACC) for the recovery of assets belonging to the respective individuals or legal entities under Article 4 of the Law of Ukraine "On Sanctions." Regarding 33 claims, court decisions have already been made and have become legally binding, while 7 are still pending. In total, the state has recovered approximately 160 mln UAH in monetary funds, 148 real estate objects, corporate rights in 41 enterprises, 308 movable property objects, and 537 pieces of historical and cultural value based on the HACC decisions.
The meeting participants also discussed current procedural issues that may arise as a result of the confiscation or freezing of Russian property and assets.
