Former CJI DY Chandrachud has been appointed by Russia as an arbitrator in an investment treaty dispute involving Ukraine’s state-owned Oschadbank.
Former Chief Justice of India DY Chandrachud has taken on a new international legal role after being appointed by Russia as its arbitrator in an investment treaty dispute involving Ukraine’s state-owned Oschadbank, according to a report by Global Arbitration Review.
The dispute is being heard by a three-member tribunal constituted under the 1998 bilateral investment treaty between Russia and Ukraine. Costa Rican arbitrator and former trade minister Dyalá Jiménez will serve as the tribunal’s president, while Greek arbitrator and National University of Singapore professor Stavros Brekoulakis has been appointed by Oschadbank.
What is the Oschadbank arbitration dispute?
Oschadbank has brought the investment claim over assets and business operations in the Donetsk, Luhansk, Kherson and Zaporizhzhia regions.
The Ukrainian bank says it suffered losses to those assets following Russia’s military actions in the regions, particularly after Russia launched its full-scale invasion of Ukraine in 2022.
The claim is understood to be worth hundreds of millions of dollars.
According to Global Arbitration Review, Oschadbank initiated the arbitration after a notice of dispute sent to Russia in July 2025 allegedly received no response.
The proceedings are being conducted under the 1998 bilateral investment treaty between the two countries, which provides a legal framework for disputes involving investments made by nationals and companies of the respective states.
Who are the arbitrators in the Russia-Ukraine case?
The three-member tribunal comprises arbitrators appointed by the parties, along with a jointly selected president.
Jiménez, a Costa Rican arbitrator and former trade minister, was chosen by both Russia and Oschadbank to preside over the tribunal.
Brekoulakis, a Greek arbitrator and professor at the National University of Singapore, was appointed by Oschadbank.
Russia selected Justice Chandrachud as its nominee.
Justice Chandrachud had earlier declined Russia’s approaches
The latest appointment is notable because Justice Chandrachud had previously declined approaches from Russia to act as its arbitrator in two other investment treaty disputes, according to reports.
Those cases involved German energy company Wintershall Dea and Ukrainian energy company Ukrenergo.
According to Global Arbitration Review, the approaches were made on the same day that the Permanent Court of Arbitration designated Chandrachud as the appointing authority in the Wintershall proceedings.
Ex-CJI DY Chandrachud subsequently stepped down from that role after disclosing the communications he had received from Russia.
His appointment in the Oschadbank proceedings therefore comes after he had previously been approached for roles connected to other treaty claims involving Russia.
Who represents Oschadbank and Russia?
Oschadbank is represented by Quinn Emanuel Urquhart & Sullivan partners Epaminontas Triantafilou and Alex Gerbi. Its legal team also includes Asters partners Oleksiy Didkovskiy, Andrii Pozhidayev and Oksana Legka.
Russia’s legal team comprises Pinna Goldberg partner Andrea Pinna, counsel Pratyush Panjwani and senior associate Dimitrios Papageorgiou.
The tribunal will now consider Oschadbank’s investment claims concerning its assets and operations in the four Ukrainian regions.
The arbitration forms part of a wider body of investment disputes arising from the Russia-Ukraine conflict, with Ukrainian companies and investors pursuing claims concerning assets affected by Russia’s actions.
