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Asters Represents Oschadbank in Claim Over Lost Crimean Investments

Asters Represents Oschadbank in Claim Over Lost Crimean Investments

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Asters has served as Ukrainian counsel (working with lead counsel Quinn Emanuel Urquhart & Sullivan) to JSC Oschadbank, in connection with Oschadbank's claim against the Russian Federation, brought before an arbitration panel at the International Chamber of Commerce in Paris, for recovery of over USD 1 billion in compensation as a result of the total loss of its investments in Crimea.

According to Asters, "the final hearing of this claim addressing jurisdictional issues, the merits, and quantum of damages took place on 27 – 29 March 2017 in Paris, France."

According to Asters, Oschadbank is "the leading bank in Ukraine with the widest network of offices." The firm describes it as "actively working in all financial sectors," and says Oschadbank is "the only Ukrainian bank that has the state guarantee envisaged by the law in respect of full protection of the monetary funds of citizens entrusted to the bank."

Quinn Emanuel Partner Alex Gerbi commented: “The Asters attorneys formed an important part of the team representing Oschadbank both during the preparatory phases and at the recent final hearing in Paris. They made a valuable contribution to the overall development and presentation of Oschadbank’s case. It has been a pleasure working with such a capable and dedicated team.”

Asters' key team on the project included Partner Svitlana Chepurna and Associates Anna Tkachova and Maryna Golovko, all working "under the general supervision of the firm's Managing Partner Oleksiy Didkovskiy."

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