The Court of Arbitration was established by the decision of PJSC LUKOIL's Board of Directors as of December 6, 1994.
Since 1995, the Court of Arbitration reviewed more than 2,800 cases.
Our Court of Arbitration has the following doubtless advantages:
affordability of arbitration, as the arbitration charge is significantly below the government fee; confidentiality, as all hearings are closed court proceedings;
the right to choose a judge from the list, which includes practitioners and lawyers, professionals with extensive experience;
prompt consideration of disputes by reviewing cases in one judicial instance instead of four in the state commercial court;
the finality of judgements taken at the conclusion of the recommended arbitration clause with the possibility of enforcement;
consideration of economic disputes given the specifics of the relations arising in the oil and gas industry.
Please note that due to reforms in the existing system of permanent courts of arbitration in the Russian Federation
the activities of PJSC LUKOIL's Court of Arbitration will be ceased based on resolution of PJSC LUKOIL's Board of Directors pursuant to the procedure and within the time limit established by the applicable legislation.
The parties of arbitration proceedings will be duly informed in advance on cessation of activities of PJSC LUKOIL's Court of Arbitration.