On 1 June 2012 the Ukrainian general court of first instance granted the request of JSC BTA Bank for the recognition of the Freezing Order of the English Court issued in the BTA Bank v Ablyazov and others proceedings (the “Order” and the “BTA Bank case” respectively).
The ruling of the Ukrainian court in the BTA Bank case is a rare example of the application of the principle of reciprocity as the basis for the recognition of foreign court decisions in Ukraine. It established jurisdiction in a case where the debtor, who is not a Ukrainian resident, has some assets in Ukraine. Its procedural implications may also be relevant to the recognition and enforcement of foreign court orders issued in relation to international arbitrations seated outside Ukraine.
A guest blog by Olena Perepelynska, Counsel at Sayenko Kharenko
This article first appeared on the CIS Arbitration Forum