As reported by Global Arbitration Review and IAReporter, renewables company Modus Energy has filed an Energy Charter Treaty claim against Ukraine – thought to be the first in a potential wave of cases the state could face over reforms to its tariffs regime.
Interfax Ukraine reported today that Modus’ Dutch subsidiary lodged the claim last month, seeking €11.5 million in damages. The case will be administered by the Stockholm Chamber of Commerce.
The news outlet also says the Ukrainian Ministry of Justice has begun its search for external counsel. Modus has instructed Vail Dispute Resolution, led by Tomas Vail, a London-based practitioner (and native Russian speaker) who previously worked at Freshfields and White & Case.