Franco Ferrari co-authors amicus curiae brief in Hulley Enterprises Ltd., Yukos Universal Ltd. and Veteran Petroleum Ltd. v. Russian Federation

Recently, the U.S. side of the Yukos v. Russian Federation enforcement saga entered a new phase: on May 24 May, the award creditors submitted a brief seeking review of the November 20, 2020 Memorandum Opinion and Order of the U.S. District of the District of Columbia granting the Russian Federation’s Motion to Stay and denying the award creditors’ request that the Russian Federation be ordered to pay security. On June 1, Professor Franco Ferrari and Professors Andrea Bjorklund and Diane Obierto submitted an amicus curiae brief addressing some of the issues dealt with by the District Court. In their brief, the amici suggested that Article VI of the New York Convention does not allow courts to automatically stay enforcement proceedings where annulment proceedings are pending in the court of primary jurisdiction, as this would violate the spirit of the New York Convention and basically amount to the introduction of a new ground for refusal of enforcement different from the seven ones exhaustively listed in the Convention. The amici also submitted that nowhere does the Convention state that sovereigns cannot be ordered to pay security.