On 1 October 2020, Advisor to the ICAC President Ms. Olga Kostyshyna took part in the discussion of current issues of maritime business in times of COVID-19.
Ms. Kostyshyna focused on practical innovations and improvements in selected amendments to the Rules of the UMAC, which were approved by the Presidium of the UCCI on 17 September and come into force on 1 November 2020.
The speaker stressed that the main purpose of developing and adopting Amendments to the Rules of the UMAC is to improve and enhance the efficiency of maritime disputes arbitration, and to timely respond to the impact of quarantine restrictions on the maritime business.
Ms. Kostyshyna presented to the participants a comparative table of Amendments to the Rules of the UMAC, which is available here, briefly mentioned the new amendments which have been added to the Rules and those aspects which have already been improved on practice. Relevant infographics are available here.
The seminar was also attended by Artem Volkov, arbitrator of the UMAC, and legal practitioners in the field of international arbitration and maritime law.