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Dutch Supreme Court rules Yukos shareholders can continue to enforce Arbitral Awards
On 4 December 2020, the Supreme Court (Hoge Raad) of the Netherlands ruled that the former Yukos majority shareholders can continue to enforce their $50 billion Arbitral Awards. You can read the Supreme Court's press release here.
The Hague Court of Appeal reinstates Arbitral Awards
The Hague Court of Appeal in the Netherlands today decided to reinstate 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 on today’s ruling: “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.”