Dutch Supreme Court upholds part of Russian appeal against $50 billion arbitration case with former Yukos shareholders.
FILE - Russian opposition figure and former owner of the Yukos Oil Company Mikhail Khodorkovsky smiles during a news conference after the Vilnius Russia Forum at the "Esperanza" hotel in Paunguriai village, Trakai district west of the capital Vilnius, Lithuania, on Aug. 20, 2021. The Dutch Supreme Court is ruling Friday, Nov. 5, 2021 in a $50 billion legal battle between Russia and former shareholders of the country's bankrupted oil giant Yukos.
The decision extends the years-long legal battle between Russia and former Yukos shareholders over what is thought to be the world’s biggest arbitral award. “Today the Supreme Court quashed the appeal court’s final judgement as well as the court’s preceding judgement,” the court said in a statement.The Supreme Court referred the case to the Amsterdam Court of Appeal for judges there rule to on that issue. The judgment rejected other grounds of appeal put forward by Russia.
An international panel of arbitrators concluded in 2014 that Moscow seized control of Yukos in 2003 by deliberately crippling the company with huge tax claims. The move was seen as an attempt to silence Yukos CEO Mikhail Khodorkovsky, a vocal critic of President Vladimir Putin.
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