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13 09 / 18

Expert: the transition period in needed in a course of establishment of investment court in the Russian Far East

Kliment Rusakomsky, the founder of PARADIGMA Law Firm, in an interview with the TASS about establishment of investment court in the Russian Far East, establishment of the special panels of judges and other practical mechanisms of protection of investors’ rights at the Eastern Economic Forum 2018

Expert: the transition period in needed in a course of establishment of investment court in the Russian Far East

The founder of PARADIGMA Law Firm also noted that positive impact of establishment of special panels of judges would be quick.

Vladivostok, September, 12. /ТАSS/. The process of establishment of investment courts should be preceded by transition period. Within this period, panels of judges, specializing in resolution of issues related to investments, should be formed. Such an opinion Kliment Rusakomsky, the founder of PARADIGMA Law Firm, has expressed on Wednesday at the EEF-2018.

The investment court that is planned to be established on the territory of the Free port of Vladivostok is intended to rule over the disputes involving residents of the Port and Russian territories of advanced development. The proceedings in the court would be held in e-justice format. In addition, there would be a possibility for parties of the dispute to appoint as judges – foreign citizens and to opt for hearing of the case in foreign language. The investment court would be reporting directly to the Supreme Court of Russian Federation. Alexander Galushka, ex-minister for the Development of the Russian Far East, noted that establishment of investment court would enable additional annual growth of gross regional product in the Russian Far East at the rate of 0, 45 %.

K. Rusakomsky, managing partner of PARADIGMA Law Firm, specializing in representation of the clients before arbitrazh courts, courts of general jurisdiction and foreign courts in disputes arising out of companies’ business activities, noted:

It would be an option to establish in the Far Eastern Federal District special panels of judges on the basis of current arbitrazh. These panels’ core specialization would be hearing of the cases related to investment activities of the companies. The establishment of the panels as a transition period would make it possible not to amend the current legislation and save national budgetary funds. In other words, it could be considered as some kind of preparation for establishment of investment court or investment instance ".

In expert’s opinion, the positive effect of establishment of special judge panels would be quick.

The citation from Rusakomsky speech is as follows:

 “We could achieve some kind of competence of the judges hearing the investment cases, stability and consistency of the rendered by the judges’ decisions”.

The fourth Eastern Economic Forum was held on 11-13 of September in Vladivostok.

TASS was the general information partner, official photo host agency and moderator of investment projects’ presentations zone at the EEF 2018.

TASS.RU