ICAC of Russian Chamber of Commerce reports record breaking number of filed claims in 2010 | Practical Law

ICAC of Russian Chamber of Commerce reports record breaking number of filed claims in 2010 | Practical Law

Natalia Belomestnova (Associate), Goltsblat BLP

ICAC of Russian Chamber of Commerce reports record breaking number of filed claims in 2010

Published on 02 Mar 2011 • Russian Federation
Natalia Belomestnova (Associate), Goltsblat BLP
At the beginning of February 2011, the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation (ICAC) published its statistics for the past year. The statistics show that in 2010, ICAC received a total of 299 claims, the highest number of filed claims for the last five years.
The statistics also show that although parties to ICAC cases were from 30 different countries, the majority of foreign parties were from Western Europe and countries of the Commonwealth of Independent States. A significant number of cases in 2010 involved Russian parties, which confirms the popularity of the ICAC among Russian companies and their contractual counter-parties. The subject of over 50% of ICAC cases was international sales, with a considerable number also concerning construction disputes.