The Council of the Federation discussed the matters of development of the private arbitration institution in Russia

The Council of the Federation discussed the matters of development of the private arbitration institution in Russia

Yury Pilipenko, Senior Partner of the Law Firm "YUST", spoke at a round table of the Council of the Federation on constitutional legislation and construction of the State on the subject “Topical matters of development of the private arbitration institution in the Russian Federation”.

The members of the event discussed the draft law “On private arbitration courts and the arbitration (private arbitration proceedings) in the Russian Federation” elaborated by the Ministry of Justice of Russia.

The document is aimed at creation of a modern and effective mechanism of legal regulation of the private arbitration institution in Russia in consideration of the international practice in the sphere of regulation of private arbitration and the current status of the institution in Russia.

The event was attended by Elena Borisenko, Deputy Minister of Justice of the Russian Federation. Konstantin Dobrynin gave her a Writ of Honor of the Council of the Federation.

As Konstantin Dobrynin pointed out, two legal institutions, which are both grossly underestimated, are currently active in Russia – mediation and private arbitration.

The Senator pointed out: “If the former has appeared only several years ago, and is at its initial development stage, the latter has been evolving for quite some time, even if with certain legal disbalances. It is time to materially amend the legislation and to initiate a new phase of evolution of the modern-day private arbitration – which is what we and my colleagues from the Ministry of Justice do”.