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Stockholm Arbitration Report (SAR)

Preview Page SAR 1999- 2

ARBITRAL DECISION RENDERED IN 1998 IN CASE 104/1997

Observations by Sigvard Jarvin

Subject-matters:

(1) Bankruptcy of Respondent during the arbitration. Nonbinding effect of the award under Finnish law.

(2) Discontinuance of the arbitration.

Findings:

(1) Under Finnish law an award rendered against a party in bankruptcy is not binding in the bankruptcy proceedings.

(2) A request for "discontinuance of" the arbitration was construed as a withdrawal of the case. Parties: Claimant: X (Russian Federation) Respondent: Y 

(Finland)

Place of arbitration: Stockholm

Nationality of arbitrators: Sole arbitrator, Swedish

Arbitration costs: EUR 2 000

SUMMARY

In June 1995, X and Y entered into an agreement pursuant to which Y was to undertake the construction of a sauna. The agreement provided for resolution of any disputes between the parties by way of arbitration in the Chamber of Commerce in Stockholm, Sweden.