Representatives from the law firm Rybalkin, Gortsunyan, Dyakin & Partners (RGD) contributed to an article for the Legal Business supplement in the Kommersant newspaper. Dmitry Dyakin, Anthony Walker, Nato Tskhakaya, Yuri Makhonin, and Alexander Geda shared their thoughts on St. Petersburg International Legal Forum, which took place from May 11 to 13, 2023.

In the article titled “Informal Contacts: Discussions at SPBILF 2023”, RGD representatives explained how the forum’s networking opportunities help identify the directions for legal market development and facilitate efficient work throughout the “business season.”

Dmitry Dyakin, Partner and Co-Head of RGD Dispute Resolution Practice, highlighted the participants’ keen interest in international arbitration. He noted that, in light of the increasing sanctions pressure, commercial arbitration has become the most convenient and effective mechanism for safeguarding Russian business. Dmitry presented recent statistics, showing a significant rise in the number of arbitration proceedings in Russia under the ICC rules. He predicted that this figure will more than triple compared to last year. During the session he participated in, the experts discussed various topics, including the criteria for selecting arbitrators and arbitration centers, as well as structuring arbitration clauses.

Anthony Walker, Partner and Head of RGD English Law Practice, shared his opinion on the growing role of mediation in international arbitration. He discussed the advantages of including mediation provisions in agreements between the parties, providing examples from English judicial practice. According to Anthony, this approach enhances mutual understanding between parties and narrows the scope of contentious issues.

Nato Tskhakaya, Partner and Head of RGD Regulatory Practice, pointed out that the legal forum provides an exceptional opportunity to network with regulators and clients in a less formal setting. She emphasized that, especially in times of turmoil, it is essential for the legal community to assess the effectiveness of measures taken to create a predictable investment climate. Nato commended relevant agencies for their excellent work in terms of both swift response and formulation of new rules.

Yuri Makhonin, Partner at RGD Dispute Resolution Practice, expressed his satisfaction with the forum’s extensive coverage of cross-border bankruptcy and recovery. He emphasized the crucial role of lawyers in helping clients avoid situations where access to justice is limited or where they find themselves at a disadvantage in proceedings initiated in “unfriendly” jurisdictions.

Alexander Geda, Counsel and Head of RGD Financial Practice, noted the emphasized

the forum’s significance for the legal market. He discussed the key trends observed in the past year, highlighting the important role of the prepaid financing mechanism and, the consistent shift from the traditional English law to rules adopted in jurisdictions friendly to Russian businesses. According to Alexander, these opportunities enable the consideration of reservations and nuances arising from sanctions pressure.

The full version of the article in Russian can be found on the Kommersant website.