Data

Date:: 03-10-2013
Country:: Arbitral Award
Number:: 233/2012
Court:: International Arbitration Court of the Chamber of Commerce and Industry of the Russian Federation
Parties:: --

Keywords

LOAN AGREEMENT - BETWEEN A LIECHTENSTEIN COMPANY AND A RUSSIAN COMPANY - UNIDROIT PRINCIPLES CHOSEN BY PARTIES AS LAW APPLICABLE TO SUBSTANCE OF DISPUTE

Abstract

Claimant, a company from Liechtenstein, entered into a loan agreement with Respondent, a Russian company. When a dispute arose the parties chose the UNIDROIT Principles of International Commercial Contracts as the law applicable to the substance of the dispute. The Arbitral Tribunal applied some of the provisions of Chapter 1 of the UNIDROIT Principles. It also applied the Civil Code of Russian Federation subsidiarily.

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