Arbitration reform was initiated by the President Putin in 2013 aiming to increase the credibility of this type dispute resolution in Russia and update the framework regulating domestic and international arbitration. “Pocket” or “sham” arbitration tribunals in Russia were heavily criticized by many members of arbitration community.
On 29 December 2015 the President signed the Law on Domestic Arbitration in the Russian Federation (“the DCA Law”) and the Law on amendments into related acts (“the Amendments Law”). One of the most important act to be revised is the Law on International Arbitration 1993. The amendments will come into effect in September 2016.
Among the most important amendments in newly enacted laws are the status of foreign institutions that administer proceedings in Russia, the status of ad hoc arbitrations, and long debated issues of arbitrability of corporate disputes.