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18-05-2020 

Yukos shareholders seize vodka trademarks in The Netherlands

The former Yukos majority shareholders have seized a number of alcohol drinks trademarks in the Benelux region, which are owned by the Russian Federation. The trademarks include the well-known Stolichnaya and Moskovskaya vodka brands.

The former Yukos majority shareholders are enforcing the Arbitral Awards, which order the Russian Federation to compensate them for the unlawful expropriation of their investment in Yukos Oil Company. In 2014, an independent, international Arbitral Tribunal awarded compensation of more than $50 billion to the shareholders. In February 2020, The Hague Court of Appeal upheld the Arbitral Awards. Following that judgment, The Hague District Court granted the exequatur orders allowing the enforcement of the Arbitral Awards in The Netherlands.

Tim Osborne, Chief Executive of GML, said: “As long as the Russian Federation defies the international courts that have found it liable, we will seize Russian state assets in accordance with the law. The attachment of the trademarks in The Netherlands is just the start.”

Other news

  • 18-05-2020 

    Yukos shareholders seize vodka trademarks in The Netherlands

    The former Yukos majority shareholders have seized a number of alcohol drinks trademarks in the Benelux region, which are owned by the Russian Federation. The trademarks include the well-known Stolichnaya and Moskovskaya vodka brands.

  • 18-02-2020 

    The Hague Court of Appeal reinstates Arbitral Awards

    The Hague Court of Appeal has today reinstated the Arbitral Awards of 2014, which order the Russian Federation to compensate the former Yukos majority shareholders for the unlawful expropriation of their investment. The Awards amount to more than $50 billion, a measure of the company’s success before it was destroyed.

    Tim Osborne, GML’s chief executive, commented: “This is a victory for the rule of law. The independent courts of a democracy have shown their integrity and served justice. A brutal kleptocracy has been held to account.”

  • 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.