Legal disaster for Russia

RUSSIA / FSU POLITICS - In Brief 04 Dec 2020 by Alex Teddy
On December 4 the Dutch Supreme Court ruled that shareholders in Yukos can continue their case seeking USD 50 billion in compensation. The court rejected Russia's bid to suspend enforcement of an earlier judgment. There will be another hearing in the Dutch Supreme Court in early 2021. In late November a US court stayed the enforcement of an award to former Yukos shareholders. In 2024 the International Permanent Court of Arbitration ruled that Russia had to pay the compensation. The court ruled that the Russian Federation deliberately bankrupted Yukos through excessive tax claims. Yukos assets were then sold to state owned entities. Yukos had been owned by Mikhail Khodorkovsky who was an outspoken enemy of Putin and spent 10 years in jail for tax evasion.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.