Supreme Court of the Netherlands canceled the decision to pay Russia more than fifty billion dollars to the former shareholders of the Yukos Oil Company and decided to revise it. This is reported on the site of the court.
The report says that the court ruled in favor of Russia and canceled the decision to pay compensation to three former major shareholders of the oil company.
The explanatory note states that under procedural reasons, the Court of Arbitration of Russia erroneously ignored the argument of Russia that the shareholders allegedly committed fraud in the arbitration procedure, and therefore did not undertake a decision on the merits.
Consequently, the decisions of the appellate court cannot remain in force. It is noted that now the case is transferred to Amsterdam Court of Appeal for hearing and re-evaluating the relevant issue.
The company began an arbitration proceedings against Russia in 2013, seeking compensation from the country by $ 13 billion. Yukos Capital Sarl stated that he provided Yukos loans per billion dollars who were not returned due to the liquidation of the company on the decisions of the Russian authorities.
By December last year, the Constitutional Court (CS) of Russia allowed not to pay 57 billion dollars to the former JCOS shareholders by decision of the Haggy Appeal. The Russian side is ready for a protracted proceedings.