The most resonant shipbuilding dispute of 2022 ended in peace
Baltic Shipyard and Admiralty Shipyards managed to come to an agreement on 1.5 billion rubles, which was not enough to complete the construction of the world's largest diesel icebreaker “Viktor Chernomyrdin”.
Comment by Alexander Arbouzov, Partner and Head of Corporate Practice at Duvernoix Legal:
"I would like to note that in Soviet times, when there was a State Arbitration, the peaceful resolution of the dispute was considered the favorable outcome – the arbitrators were even obliged to facilitate the settlement, since it was assumed that there could be no real contradictions between state-owned enterprises. Therefore, we should be glad that the two shipbuilding giants managed to reach an agreement."