VERBA LEGAL Successfully Secures Recognition and Enforcement of Swiss Arbitration Centre Arbitral Awards in Uzbekistan

The Tashkent office team of VERBA LEGAL successfully represented a Cyprus-based international natural gas trader operating in European energy markets in proceedings for the recognition and enforcement in the Republic of Uzbekistan of arbitral awards rendered in arbitration proceedings administered by the Swiss Arbitration Centre. The respondent in the proceedings was one of the largest oil and gas companies in Uzbekistan.

Following consideration of the case, the Uzbek court recognized the arbitral awards and granted permission for their enforcement in Uzbekistan. Based on the court’s decision, an enforcement writ was issued to the award creditor.

Ernest Khachaturyan, Counsel at VERBA LEGAL’s Tashkent office, commented:
"Having the trust of major international energy market players in matters of this scale is an important recognition of the team’s expertise and work. The issuance of the enforcement writ concludes the judicial stage, but not the process as a whole. We are now focused on achieving full satisfaction of the client’s claims and consistently pursuing the statutory enforcement measures available against the debtor."

The VERBA LEGAL team advising on the matter comprised: Managing Partner Tatyana Neveeva, Managing Partner of the Tashkent office Bobur Karimov, Counsel Ernest Khachaturyan, Senior Associate Vladimir Domashin and Associate Sarvarbek Olimjonov.