February 10th, 2012

GAFTAWORLD publishes ARBITRADE’s comment on interim measures introduced at the stage of recognition of foreign awards in Ukraine

The February issue of GAFTAWORLD contained comment of Yuliya Chernykh, partner with ARBITRADE, on interim measures permitted in the course of recognition and enforcement of foreign awards in Ukraine.

Following the changes, upon submitting an application fo rrecognition and enforcement of a Gafta award to the competentUkrainian court, a party may simultaneously or at any stage afterwards ask for interim measures in support of its application. The range of the interim measures available is vast and encompasses sequestration of property, prohibition of certain actions, establishment of an obligation to perform certain actions etc. The general time limit for consideration of requests for interim measures is two days following the filing of the request. A court mayask for a pledge from the applicant requesting interim measures.

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