ARBITRAL DECISION RENDERED IN 1998 IN CASE 104/1997
Observations by Sigvard Jarvin
(1) Bankruptcy of Respondent during the arbitration. Nonbinding effect of the award under Finnish law.
(2) Discontinuance of the arbitration.
(1) Under Finnish law an award rendered against a party in bankruptcy is not binding in the bankruptcy proceedings.
(2) A request for "discontinuance of" the arbitration was construed as a withdrawal of the case. Parties: Claimant: X (Russian Federation) Respondent: Y
Place of arbitration: Stockholm
Nationality of arbitrators: Sole arbitrator, Swedish
Arbitration costs: EUR 2 000
In June 1995, X and Y entered into an agreement pursuant to which Y was to undertake the construction of a sauna. The agreement provided for resolution of any disputes between the parties by way of arbitration in the Chamber of Commerce in Stockholm, Sweden.