Having heard and considered the report of Judge Neshatayeva T.N., as well as the explanations of the representatives of the participants in the case, the Presidium has established the following.

Limited liability company Sokos Hotels Saint-Petersburg (client), whose legal successor is OOO Sokotel (hereinafter – OOO), and company AB Living Design (Kingdom of Sweden) entered into contract No. 2006-08 on 10 January 2007 (hereinafter – the Contract), whereby AB Living Design undertook to deliver and assemble internal architectural elements in 278 hotel rooms, and OOO promised to pay the amount of EUR 2,006,958 for services rendered. Paragraph 17.2 of the Contract contained an arbitration clause on the submission of disputes arising from the Contract to the Arbitration Court for Alternative Dispute Resolution of the Stockholm Chamber of Commerce, Sweden. Under paragraph 17.3 of the Contract, the relations of the parties under the Contract or arising from the Contract are subject to Swedish international law.

In order to eliminate difficulties that had arisen in the performance of the Contract, the parties entered into a settlement agreement on 22 October 2007 (hereinafter – the Settlement Agreement), which provided at paragraph 1.2 that all the provisions of the Contract which were not amended remained in force. Under paragraph 8.2 of the Settlement Agreement, all disputes and disagreements between OOO and AB Living Design, which are directly related to the Agreement, or any other relation, shall be submitted for examination to the Arbitrazh Court of Saint-Petersburg and the Leningrad Region.