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Oschadbank v. Russia (I), Judgment of the Paris Court of Appeal on Russia's Application to Set aside the Award on Costs, June 23, 2026

23 Jun 2026
Joint Stock Company "State Savings Bank of Ukraine" (JSC Oschadbank) v. Russian Federation (I), PCA Case No. 2016-14
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Judgment of the Paris Court of Appeal on Russia's Application to Set aside the Award on Costs (French)
Document Details:
LISTED PARTICIPANTS
Judgment of the Paris Court of Appeal on Russia's Application to Set aside the Award on Costs (French)
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
David A.R. Williams
Arbitrator(s)
Charles N. Brower, Hugo Perezcano Díaz
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
M. Daniel Barlow, Jacques Le Vaillant, Joanna Ghorayeb
Claimant's counsel
Luca de Maria, Philippe Pinsolle, Isabelle Michou, Thomas VOISIN, Anne-Marie Lacoste, Laura Desan
Claimant's law firm
Respondent's counsel
Matthieu Boccon Gibod, Andréa Pinna, Raphaelle Haïk, Aleksandra Fedosova
Respondent's law firm
Other counsel
Carla Deveille-Fontinha
Claimant's expert
Claimant's expert firm
Respondent's expert
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Third-party funder
Entities
LX Paris-versailles-reims, Pellerin - DE Maria - Guerre, Quinn Emanuel Urquhart & Sullivan, Russia
Country
France
Print reporter
Document Summary
Judgment of the Paris Court of Appeal on Russia's Application to Set aside the Award on Costs (French)
This summary note is machine-generated. Always consult the original materials.

This judgment of the Paris Court of Appeal (Cour d'appel de Paris) addresses an application by the Russian Federation to set aside an arbitral award on costs dated 19 June 2024. The costs award was rendered in PCA Case No. 2016-14 and followed a decision by the same arbitral tribunal on 11 December 2023, which had rejected Russia's application for revision of the final award but reserved its decision on costs.

The central legal issue before the Court was whether the annulment of the 11 December 2023 award on the revision application would, as a necessary consequence, lead to the annulment of the subsequent award on costs. The Russian Federation argued for such consequential annulment, asserting a direct dependency between the two awards. JSC Oschadbank, the respondent in the annulment proceedings, contended that the application should be dismissed.

The Court of Appeal held that the principle of consequential annulment ("annulation par voie de conséquence") was applicable. It reasoned that the 19 June 2024 costs award was inextricably linked to, and dependent upon, the 11 December 2023 award on revision. Having annulled the award on revision by a separate decision of the same date, the Court found that the costs award must also be set aside.

Consequently, the Court granted the application and annulled the arbitral award of 19 June 2024. It further ordered JSC Oschadbank to bear the costs of the court proceedings and to pay the Russian Federation €50,000 under Article 700 of the French Code of Civil Procedure.