On 24 July 2025, Oschadbank's legal counsel transmitted to russia a formal Notice of Dispute under the Ukraine-Russia Bilateral Investment Treaty.
The Notice provides for the compensation for the loss of investments in the temporarily occupied territories of the Donetsk, Luhansk, Kherson, and Zaporizhzhia Regions. If russia does not pay the compensation within six months, the case will be referred to international arbitration.
This Notice is a further proof of longstanding and courageous battle of the state-owned bank to restore its infringed rights via international legal instruments and undertaking of practical steps to receive compensation from the aggressor state.
Asters are honoured to be engaged by Oschadbank as a local legal counsel, and together with the lead legal counsel Quinn Emanuel Urquhart & Sullivan UK LLP, to represent Oschadbank in the second case on recovery of damages from Russia. Asters' team on the new case includes Managing Partner Oleksiy Didkovskiy, Partner Oksana Legka, Counsel Andriy Stetsenko, Associates Ivanna Artemovych and Oleksandr Lutsenko, and Junior Associate Diana Polyvoda.