The US Court of Appeal rejected the lawsuit of ex-shareholders of the YUKOS oil company to Russia by 50 billion dollars. This is reported by RIA Novosti on reference to the court order.
it clarifies that the court satisfied the defendant’s petition in the face of Russia and rejected the application of ex-shareholders to revise the decision of the court of subordinate instance regarding the payment of compensation. “The petition is satisfied, the case is closed,” the ruling says.
Earlier, Russia asked the Court in the American District of Columbia not to renew the case on the payment of compensation for former JUKOS shareholders before the completion of the proceedings in the Netherlands. Thus, Moscow, in response to a petition for the renewal of the process, noted that the suspension of production in this case is relevant and fully justified, since further proceedings may be fruitless if Russia defeats in Holland or any further appeals in the Supreme Court of the Netherlands.
In November, the Supreme Court of the Netherlands abolished the decision to pay Russia more than fifty billion dollars to former YUKOS shareholders and decided to revise it. The official 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 Arbitration Court of Hague 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.