Dutch Supreme Court refers one issue to Court of Appeal

The former Yukos majority shareholders today won on all substantive grounds of Russia’s appeal to the Dutch Supreme Court. However, the Court also decided that certain factual allegations need to be reviewed in full, having been decided previously by the Court of Appeal on purely procedural grounds. Therefore, the Supreme Court has referred the case to the Court of Appeal in Amsterdam, which will review this one limited issue. You can read our press release here.

Tim Osborne, Chief Executive of GML, the holding company of the former Yukos majority shareholders, said: “We will study the Supreme Court ruling, but are confident that the Court of Appeal in Amsterdam will dismiss the baseless allegations raised by the Russian Federation, and the Arbitral Awards will be upheld.”