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International Reinsurance in Russia: new rules of the game
Russian courts have refused to enforce several arbitral awards rendered in London, UK under the English law. The disputes between the parties arouse out of standard reinsurance contracts and the proceedings in UK were based on usual set of documents in reinsurance area. However, Russian courts have found breach of public policy in execution of reinsurance contracts via electronic means. Now originals of such contracts are required for recovery in Russia.KIAP lawyers have prepared an Alert, please feel free to look it through and find more details.