Former CJI DY Chandrachud Appointed as Arbitrator in Ukraine Bank Investment Dispute

Key facts

• Former Chief Justice of India DY Chandrachud has been appointed by Russia as an arbitrator in an international investment treaty dispute filed by Ukraine's state-owned Oschadbank.
• The arbitration has been initiated under the 1998 Russia-Ukraine bilateral investment treaty.
• The dispute relates to Oschadbank's assets and business operations in Donetsk, Luhansk, Kherson and Zaporizhzhia, which the bank claims it lost following Russia's military actions.
• The three-member tribunal will be headed by Costa Rican arbitrator and former trade minister Dyalá Jiménez, who was jointly selected by both sides.
• The third member is Greek arbitrator and National University of Singapore professor Stavros Brekoulakis, appointed by Oschadbank.
• Justice Chandrachud's appointment does not mean he is representing Russia as a lawyer; as a party-appointed arbitrator, he will exercise independent judgment.
• He had previously declined approaches from Russia to serve as arbitrator in separate disputes involving Wintershall Dea and Ukrenergo.
• This is a separate proceeding from Oschadbank's earlier arbitration over Crimea annexation, where a tribunal awarded the bank approximately $1.1 billion.