Ukraine and Russia to settle gas bill in Sweden
Published: 17 Jun 2014 13:50 GMT+02:00
Updated: 17 Jun 2014 13:50 GMT+02:00
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"The SCC is the world’s oldest still-active arbitration institute, founded in 1917," law professor Eric Bylander of Uppsala University told The Local. "Stockholm became a popular location for arbitration cases during the Cold War, since Sweden was neutral and had several skilled arbitrators who spoke Russian."
Arbitration issues settled in Stockholm are recognized in almost every country in the world ever since the New York Convention was passed. This, the SCC notes on its home page, is a clear advantage when dealing with cross border business contracts.
"Bribery and political pressure on courts are relatively rare in Sweden," said Bylander, who added that the SCC's work is a large contributing factor to Sweden's reputation for being non-corrupt.
"They want the case decided in a neutral country. This conflict doesn’t have anything to do with Sweden, and that’s part of the point."
Bylander added that the judges who decide the case are not necessarily Swedish, although members of a Swedish court.