Russia Can't Get Out Of Crimea Bank Seizure Award

Law360 (September 13, 2019, 5:15 PM EDT) -- An international tribunal has refused to reconsider its decision holding that Russia unlawfully expropriated investments held in Crimea by Ukraine's largest commercial bank following its 2014 takeover of the peninsula.

The Permanent Court of Arbitration tribunal rejected Russia's request to reconsider its findings on jurisdiction and liability in a decision issued on Thursday, PrivatBank said in a statement.

Russia had previously refused to participate in the proceeding, saying it didn't recognize the tribunal's jurisdiction and that the treaty under which the claims were brought, a 1998 bilateral investment treaty between Ukraine and Russia, cannot serve as a basis to resolve these...

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