Top News

• Former Chief Justice of India D. Y. Chandrachud appointed as arbitrator of Russia
• 1998 Bilateral Investment Treaty (BIT) between Russia and Ukraine.
• Property damage in Donetsk, Luhansk, Kherson and Zaporizhia regions following the Russian invasion in 2022.

DY Chandrachud Latest News: Former Chief Justice of India D.Y. Chandrachud has been appointed by Russia as an arbitrator on the Russian side in an investment dispute to Ukraine. It is reported that Chandrachud was appointed in the investment dispute to Oschadbank, the state-owned bank of Ukraine. The dispute is to the 1998 Bilateral Investment Treaty between Russia and Ukraine.

The case will be heard by a three-member arbitral tribunal. Notably, Chandrachud had earlier rejected proposals to be appointed as an arbitrator on behalf of Russia in some other investment disputes. Therefore, his appointment at this time is considered important in terms of international law and investment arbitration.

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Oshadbank's claim worth billions of dollars

According to Global Arbitration Review, the amount of compensation in the dispute is large, with Oshadbank's claim to the bank's assets and business in Donetsk, Luhansk, Kherson and Zaporizhia regions of Ukraine. Oshadbank claims that Russia's massive invasion of Ukraine in 2022 and subsequent military operations in Ukraine caused significant damage to property and business operations in Ukraine. The claim made by the bank is said to be in the hundreds of millions of dollars.

The issue of economic losses caused by war

But the dispute is not limited to the legal conflict between Russia and Ukraine. Property and businesses in Ukraine have been damaged in the wake of the Russia-Ukraine war. Important issues such as liability for these losses and the right to compensation under international investment treaties will also be raised in this case. Chandrachud's appointment has brought the matter to the attention of the international law and investment arbitration sector.

What exactly is the case?

Ukraine's main state bank, Oshchadbank, is demanding huge compensation from Russia. The bank alleges that Russia's military operations have caused serious damage to its assets and business in several key regions of Ukraine. The affected regions include Donetsk, Luhansk, Kherson and Zaporizhia.

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The bank has taken legal action to recover this financial loss. The bank formally informed Russia about the dispute in July 2025. It is alleged that the legal process was initiated after Russia did not receive a satisfactory response. The total claim amount in this case is estimated to be in the tens of millions of dollars (billions of dollars).

Establishment of Arbitration Board and Role of Ex-Chief Justices

A three-member arbitration board has been established to resolve this complex international dispute, and former Chief Justice D. Y. Chandrachud has been selected as the arbitrator.

Other members of the panel include Costa Rican Diala Jimenez, who has been appointed chairman with the consent of both the Russian and Ukrainian banks. The third member is Stavros Brekolakis of Greece, who has been selected by Oschadbank as its mediator. This panel will ensure a fair hearing of the claims of both the parties.