Former Chief Justice of India DY Chandrachud has been appointed by Russia as an arbitrator in an international legal dispute with Ukraine’s state-owned Oschadbank. The case involves claims over lost assets in conflict regions, valued at hundreds of millions of dollars, being heard under a 1998 bilateral investment treaty.
Former Chief Justice of India DY Chandrachud has been named to an international arbitration tribunal representing the Russian Federation in a high-stakes legal dispute initiated by Ukraine’s state-owned bank, Oschadbank. The legal proceedings concern claims made by the bank regarding assets and operations that were allegedly lost or impacted in the Donetsk, Luhansk, Kherson, and Zaporizhzhia regions following the Russia-Ukraine conflict.
Arbitration Under 1998 Treaty
The dispute is being processed under the 1998 bilateral investment treaty between Russia and Ukraine. Oschadbank initiated these proceedings after a formal notice of dispute filed in July 2025 reportedly went unanswered. The bank is seeking compensation valued at hundreds of millions of dollars for the loss of its operational assets in the affected territories.
To resolve the matter, a three-member arbitration tribunal has been formed. The tribunal is presided over by Costa Rican arbitrator and former trade minister Dyalá Jiménez, who was jointly selected by both parties. The other members include Stavros Brekoulakis, a Greek arbitrator and academic at the National University of Singapore, who was appointed by Oschadbank, and DY Chandrachud, who serves as the representative appointed by Russia.
Historical Legal Context
This appointment follows several previous instances where Russia had approached the former Indian Chief Justice for arbitration roles in treaty-related disputes. In the past, DY Chandrachud had declined to serve as an arbitrator for Russia in cases involving the energy company Wintershall Dea and the state-owned power firm Ukrenergo. His involvement in the Wintershall proceedings as an appointing authority concluded after he disclosed specific communications with Russia, leading to his withdrawal from that particular role.
Why This Matters for Global Perspectives
While this event does not impact Indian listed stocks directly, it holds significance for observers of international law and sovereign risk. International investment arbitration is a specialized field where tribunals decide claims between private or state-owned entities and foreign governments. These cases often create precedents regarding how assets are protected under international treaties during geopolitical conflicts. The outcome of this specific arbitration will be closely watched by international legal experts, as it involves the interpretation of investment protections during active conflict scenarios, a subject that remains a critical component of risk assessment for companies with significant cross-border investments.