Yukos shareholders try to recover $ 50 billion from Russia through the courts

Shareholders of the Yukos oil company appealed to the courts of the United States, France and the United Kingdom to recover compensation in Russia for 50 billions of dollars awarded by the Hague court. About this in an interview with Sueddeutsche Zeitung said the head of the Group Menatep Limited (GML) Tim Osborne.

According to Osborne, lawyers representing the interests of Yukos shareholders also intend to file appeals for compensation from the Russian Federation in the courts of Belgium, the Netherlands, and Germany.

Going to court, he said, the only way out in the current situation, when Russia refuses to comply with the decision of the Hague Court and to pay the awarded compensation.

“Requests for compensation are sent to the courts of Great Britain, France and the United States,” said Tim Osborne.

The arbitration court in The Hague awarded YUKOS shareholders compensation in 50 billions of dollars in July 2014, in effect accepting that the company was illegally nationalized by the Russian authorities. This, as was emphasized, was about the largest compensation that the court had ever awarded at the suit of private investors to the state.

15 January 2015 has expired, when Russia could pay the sum paid by the Hague court in The Hague without interest. From that day interest began to accrue. According to RBC, we are talking about 2,6 million dollars a day.

In early February, 2015, it became known that the Russian side had appealed the decision of the Hague court to pay compensation. The consideration of petitions filed by the Russian Federation to the court of The Hague has not yet been completed.
In addition to the compensation in 50 of billions of dollars, Russia must pay Yukos shareholders more 1,87 billion euros by the decision of the European Court of Human Rights (ECHR). Russia tried to challenge the decision of the ECHR in July 2014, but its complaint was rejected.