Andrei Yakovlev

Andrei Yakovlev

Described as a “top notch professional” by Legal 500 and named a Super Lawyer by Thomson Reuters, Andrei is a New York, English and Russian qualified arbitration partner with over 20 years of experience.

Andrei specializes in disputes arising out of foreign investment, sovereign and corporate finance matters, M&A/joint ventures and fraud. He acts largely for sovereign states, central banks, large corporates and ultra-high net worth individuals. His practice covers both investor-state and commercial arbitration. Andrei handles disputes mostly in the energy, metals and mining, telecommunications and financial services sectors. Most frequently, he arbitrates disputes under ICSID, ICSID Additional Facility, UNCITRAL, ICC, LCIA and SCC rules.

Representative matters

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By way of example, Andrei has acted for:

  • Kyrgyz Republic in a trio of UNCITRAL arbitration proceedings arising out of nationalization of Kyrgyzstan’s largest bank, AsiaUniversalBank, with investor claims ranging between US $17 mln and US $500 mln. Two claims defeated with costs ordered against investors, third claim pending;
  • Hellenic Telecommunications Organisation, Greece’s biggest telecommunications company in parallel ICC and LCIA arbitration proceedings against the Government of Armenia involving US $500 mln claims and counterclaims for breach of investment obligations. Case settled;
  • Ukraine in a trio of ICSID, SCC and UNCITRAL proceedings in respect of a US $270 mln claim by JKX Oil & Gas Plc (an LSE-listed petroleum company) and its subsidiaries under the Energy Charter Treaty, the UK-Ukraine BIT and the Netherlands-Ukraine BIT, in connection with an increase by Ukraine of petroleum production taxes and imposition of restrictions on domestic gas sales and on repatriation of dividends.  Tribunal dismissed over 95% of the Claimants’ claims and ordered just US $11.8 million against Ukraine;
  • Kyrgyz Republic in a successful challenge of an award made by an UNCITRAL tribunal chaired by Ian Paulsson which awarded sole shareholder in Manas Bank, a Kyrgyz commercial bank, US $16.5 million for 'expropriation' of the bank. Paris Court of Appeal set aside the award after finding it breached public policy in that the bank was established and used to a substantial degree for money laundering and thus the award was conferring on the shareholder the value of a criminal enterprise.
  • Polski Koncern Naftowy Orlen S.A., Poland’s largest oil refinery, against Russian oil major Yukos in UNCITRAL proceedings involving US $4.5 billion in claims and counterclaims, ranked by AmLaw Arbitration Scorecard among ten largest contract arbitrations worldwide. Case settled on favourable terms. Case settled;
  • Naftogaz Ukrayiny, Ukraine’s national petroleum company, against several entities controlled by Ukrainian oligarch Igor Kolomoyski and his associates, in LCIA proceedings in a shareholder dispute relating to Ukrnafta, Ukraine’s largest oil producer majority-owned by Naftogaz. Case pending;
  • A respondent in LCIA proceedings among Russian and Ukrainian oligarchs: Pinchuk v Kolomoyski, Bogolyubov and Spektor in a dispute arising out of a US $2 billion international ferromanganese consortium. Case settled;
  • Russian businessman Mikhail Abyzov and his corporate group in a US $1 billion claim in the BVI courts against Viktor Vekselberg and Renova Group arising out of a joint venture agreement in the energy sector. Case pending;
  • Kyrgyz Republic before the CIS Economic Court in a regional multilateral investment treaty interpretation case. The court sided with the Kyrgyz Republic on its interpretation of the treaty and the decision was ranked by Global Arbitration Review among ten “most important decisions of 2014” globally;
  • Credit Agricole Indosuez group as claimants in a series of UNCITRAL proceedings arising out of US $500 mln worth of defaults by Russian banks on ISDA-based financial derivatives. All claims granted with costs;
  • Kyrgyz Republic in UNCITRAL proceedings in London in relation to a US $128 mln claim by Canadian miner Stans Energy Corp, relating to an alleged expropriation of its rights to one of the world’s largest rare earth metals mines. Case pending;
  • A Kazakhstani oligarch in a US $50 million arbitration claim under the UK Arbitration Act 1996 and related High Court proceedings in London, in connection with a sale of shares in a Kazakhstani-based metals plan. Case settled;
  • A Russian oligarch as a respondent in a US $27 million ICC arbitration arising out of a fraudulent claim by the oligarch’s financial adviser. Claim dismissed with all costs ordered against the claimant;
  • Kyrgyz Republic in three UNCITRAL proceedings in Stockholm in relation to a US $200 mln claim by Canadian miner Centerra Gold Corp and its subsidiaries, relating to environmental damage claims arising out of Centerra’s mining operations in the country; Case pending.

Education

  • S.J.D., Northwestern University School of Law (Chicago)
  • LL.M., Northwestern University School of Law (Chicago)
  • LL.M., Queen Mary, University of London
  • Dipl Jur, Moscow State Institute of International Relations (MGIMO, Moscow)
Legal insights

The Kyrgyz Republic has been hit by a series of international investment arbitration claims over the past two years.

05 December 2014