What happened
A Cypriot international natural gas trader, represented by a Russian law firm, obtained recognition and enforcement in Uzbekistan of arbitral awards issued in proceedings administered by the Swiss Arbitration Centre. The respondent in the arbitration and the debtor in the enforcement proceedings was one of Uzbekistan’s largest oil and gas companies. The Uzbek court recognized the awards and allowed their enforcement, issuing a writ of execution to the award creditor.
Why it is notable
An example of the enforcement of a European arbitration center’s awards against a major state oil and gas company of the CIS in its “home” jurisdiction.