In 2014 an independent tribunal in The Hague ruled that one of Russia’s most successful companies, Yukos Oil, had been illegally expropriated by the Russian Federation. The tribunal awarded compensation of $50 billion to former Yukos shareholders.
The Russian Federation refuses to pay these awards, and resists every attempt to enforce them. As the Kremlin strives to undermine our values and our democratic institutions, it has nothing but contempt for the rule of law. In our booklet below, we look at the Kremlin's new 'War on the West', and remember the courageous individuals who fought back.
GML, via its wholly-owned subsidiaries, Yukos Universal Limited and Hulley Enterprises Limited, was the majority shareholder of the former Yukos Oil Company. Our goal is to obtain justice by ensuring that the arbitral awards are upheld and enforced. We believe the rule of law will prevail.
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21-01-2019
Dutch Supreme Court rules that Russia unlawfully bankrupted Yukos
On Friday 18 January 2019, the Dutch Supreme Court ruled that Russia unlawfully bankrupted Yukos Oil Company. The judgment upholds the ruling of the Appeals Court, which found the politically-motivated bankruptcy so egregious that it violated Dutch public policy.
25-09-2018
GML welcomes The Hague Appeals Court ruling
On 25 September 2018, The Hague Appeals Court clarified the scope of the ongoing Dutch set-aside proceedings where former Yukos majority shareholders (GML) aim to reinstate the Arbitral Awards of 2014, which awarded them more than $50 billion in compensation after Russia unlawfully expropriated their investment.
19-06-2018
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