Tim Osborne : “the decision of the court in the Hague was a surprise to us”


— Whether or not within the requirements of the new York Convention on arbitration, all proceedings on a “case of Yukos” in those countries where they have already been initiated will be terminated?

— In fact, each country has its own system, its processes, and Russia will have to send requests to each jurisdiction for proceedings under “the Yukos case” has been terminated or suspended. We will challenge these requirements.

— Is it true that French law gives priority to international arbitral awards before national courts?

— Yes. In France, as I understand it, primarily looking at judicial decisions of arbitration.

— Whether after the decision of the court in the Hague closed the case in Belgium and the Netherlands and other countries?

— No, this does not mean that all court proceedings will be closed or suspended automatically in any country. They will be closed in case if Russia will submit the appeal to the courts of those countries, and only after the production will be terminated or suspended.

— Will you appeal, if the courts accept the decision to suspend production?

— Yes, of course. For us was a big surprise that the court in the Hague made this decision, we will appeal and we hope that we will be able to convince the appellate court of the correctness.

— What is the situation in U.S. courts?

In the USA the situation is the same as in other courts, we now expect the decision of the American court. We have no doubt that Russia turns into an American court to terminate or suspend criminal proceedings, however, no automatic termination of the case out of the question.

— Who spends more on lawyers, you or the Russian authorities?

— Hard to say, because the Russian authorities did not disclose exact figures, they use the wording “at least” or something like that. But I can say that Russia has two times more lawyers in the process than us.

— Will you file a lawsuit in new countries and jurisdictions?

— I believe that we will do so only after the appeal in the Netherlands. No one took action about it. Today something happened that we never expected, we did not consider the negative scenario in detail.