Years after the fire in 2018, a prominent art collector and businessman Perelman claims that 5 artworks lost their spark, luster and depth and demands $410m for them. The insurance companies have argued that the works had “not sustained any detectable damages”. Allegations of Damage: Oomph or no oomph? At the heart of the dispute […]
Autor: Anna Kopylova
Russian courts‘ new approach to reciprocity: Post-sanctions compliance
The Moscow District Arbitrazh Court refused to recognize decisions from US courts, stating a lack of evidence of reciprocity under international principles. Decisions made before February 28, 2022, were considered irrelevant in the ruling (case No. A40-242631/2022, dated 24 July 2023) The court cited Government Decree No. 430-r of March 5, 2022, which listed „unfriendly […]
Restitution of Nazi-looted art: New law aims to facilitate enforcement of claims
On April 17th, the German Federal Ministry of Justice proposed a bill to facilitate the enforcement of claims for the return of cultural property unjustly seized during the Nazi era. New provisions include information requests and rules regarding statutes of limitations. ©Rui Alves/Unsplah The proposed legislation seeks to streamline the process for reclaiming Nazi-confiscated cultural […]
Nearly 80 years after the end of National Germany to replace Nazi-loot advisory panel with binding arbitration
The Advisory Commission, formerly known as the Limbach Commission, dealing with the return of Nazi-looted art from Jewish owners, has been facing criticism for its inefficiency. Now, nearly 80 years after the end of National Socialism in Germany the federal government, states and local authorities agreed shaking things up by replacing it with an arbitration […]
The ongoing legal saga: Court bans Finland’s Wartsila from suing a Russian plant abroad
A court in St. Petersburg has forbidden the Finnish company, Wartsila, from pursuing or continuing arbitration proceedings abroad against a Russian plant. This decision follows the court’s earlier rejection of Baltic Plant’s €7.6 million claim against Wartsila for non-compliance with six independent guarantees. Background facts The guarantees were related to a contract with the Russian […]
Frankfurt am Main: Delay of the arbitral award does not lead to annulment
Does the arbitral tribunal have endless time to render its final award? Or might the losing party have a ground to challenge an award because the tribunal needs too much time for it? The Higher Regional Court (OLG) Frankfurt am Main had to decide whether a delay of almost one year constituted grounds for setting aside […]
Decisions about the validity of arbitration clauses at the seat of arbitration are binding in proceedings about the enforcement of an award
Decisions rendered in state court proceedings at the place of arbitration about the scope of the arbitration clause are binding for the German exequatur court and exclude a reconsideration of these issues or a successful invocation of the same defence in the German enforcement proceedings. This applies in particular to the defence of the lack […]