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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.”

In July 2014, an independent international Arbitral Tribunal in The Hague ruled unanimously that the Russian state had unlawfully expropriated Yukos Oil, the country’s most successful company and largest taxpayer. The Tribunal found that “Russian courts bent to the will of Russian executive authorities to bankrupt Yukos, assign its assets to a state-controlled company [Rosneft] and incarcerate a man [Mikhail Khodorkovsky] who gave signs of becoming a political competitor.”

Today’s ruling fully reinstates the Arbitral Awards of 2014, and overturns the bizarre 2016 decision of the District Court of The Hague to set them aside. The former Yukos majority shareholders believed that the District Court’s decision was fundamentally flawed, and therefore appealed it to The Hague Court of Appeal, submitting thousands of pages of legal submissions, evidence and witness statements.

Ander nieuws

  • 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 

    Gerechtshof Den Haag houdt Arbitrale Vonnissen van meer dan $50 miljard in stand

    Vandaag heeft het Gerechtshof Den Haag besloten de Arbitrale Vonnissen van 2014 in stand te houden. In die Arbitrale Vonnissen werd de Russische Federatie veroordeeld tot betaling van een schadevergoeding van meer dan 50 miljard dollar aan de voormalige meerderheidsaandeelhouders van Yukos voor de onrechtmatige onteigening van hun investering.

  • 21-01-2019 

    Hoge Raad: Rusland handelde in strijd met de Nederlandse openbare orde

    Op 18 januari 2019 heeft de Hoge Raad der Nederlanden in een historische uitspraak een einde gemaakt aan de jarenlange juridische strijd over de politiek gemotiveerde onteigening van de internationale bezittingen van Yukos. De Hoge Raad bekrachtigde een eerdere uitspraak van het Gerechtshof Amsterdam, dat oordeelde dat de wijze waarop Rusland het faillissement van Yukos heeft bewerkstelligd in strijd is met de Nederlandse openbare orde.