Former Yukos co-owner was suspected of illegally obtaining shares


As reported by the source Agency “Interfax”, in the course of further investigation, law enforcement agencies received evidence that the former owners of YUKOS have become its shareholders through fraud. From this it follows that a foreign legal entity, backed by former top executives of the oil company, had no legal grounds for claims on Russia at $50 billion.

According to a source, it is not excluded that the investigators obtained evidence will serve as a basis for any new charges against Mikhail Khodorkovsky and other former Yukos co-owner and trial.

In July 2014 international arbitration in the Hague awarded former Yukos shareholders a record compensation of $50 billion, Russia refused to pay, after which the shareholders of Yukos have begun the process of compulsory execution of decisions in several Western jurisdictions — Belgium, France, Germany, UK, USA.

The appeal in the Yukos case in the district court of the Hague will be considered on April 20.

District court of the Hague not to review the arbitration decision: it is final and the affected shareholders of Yukos could theoretically go with him to the courts of the 150 countries participating in the new York Convention. But Russia has a chance to overturn an arbitral award in a local Dutch court on limited grounds, such as violation of the arbitrators of their mandate. If a Dutch court will side with Russia, courts in most jurisdictions are likely to refuse to execute an arbitral award in favor of Yukos shareholders.

However, even in this case, the courts of France, Austria and Belgium can continue to rely on the verdict of the Arbitration Tribunal of the Hague.