Litwin
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BREAKING: Court Reinstates Order for Muscovy ("Russia") to Pay $50 Bn Over Yukos
BAD NEWS FOR PUTLERSTAN ))
Court Reinstates Order for Russia to Pay $50 Bn Over Yukos
THE HAGUE, Netherlands — A Dutch appeals court on Tuesday reinstated an international arbitration panel’s order to Russia to pay $50 billion compensation to shareholders in former Russian oil giant Yukos.
The ruling overturned a 2016 decision by The Hague District court that quashed the compensation order on the grounds that the arbitration panel did not have jurisdiction because the case was based on an energy treaty that Russia had signed but not ratified.
The Hague Court of Appeal ruled that the 2016 decision “was not correct. That means that the arbitration order is in force again.”
The decision, a major defeat for Moscow, can be appealed to the Dutch Supreme Court.
There was no immediate reaction from the shareholders.
BAD NEWS FOR PUTLERSTAN ))
Court Reinstates Order for Russia to Pay $50 Bn Over Yukos
THE HAGUE, Netherlands — A Dutch appeals court on Tuesday reinstated an international arbitration panel’s order to Russia to pay $50 billion compensation to shareholders in former Russian oil giant Yukos.
The ruling overturned a 2016 decision by The Hague District court that quashed the compensation order on the grounds that the arbitration panel did not have jurisdiction because the case was based on an energy treaty that Russia had signed but not ratified.
The Hague Court of Appeal ruled that the 2016 decision “was not correct. That means that the arbitration order is in force again.”
The decision, a major defeat for Moscow, can be appealed to the Dutch Supreme Court.
There was no immediate reaction from the shareholders.
