On Friday, July 1, the Global Arbitration Review (GAR) reported on the appointment of Lazareff Le Bars as counsel to Sergei Pugachev in his arbitration claim against the Russian Federation.
Sergei Pugachev, a French national, is opposing the Russian state in a $12 billion claim for compensation for the expropriation of his assets in Russia, which include ship yards, mines and several real estate projects.
The international arbitration claim, filed in September 2015 on the basis of the France-Russia bilateral investment treaty, is expected to be administered before the Permanent Court of Arbitration (PCA) in The Hague.
On June 17 Sergeï Pougatchev appointed Professor Thomas Clay as arbitrator. The arbitral tribunal is expected to be constituted by September.
The arbitration is considered today as one of the largest arbitral proceedings ever given the amount at stake.
Benoit Le Bars is acting as lead counsel and is supported by a team that includes partner Jean-Claude Najar, and associates Athina Fouchard Papaefstratiou, Lucian Ilie and Hermann Prodel.