Ex-shareholders of Yukos have decided not to claim on Russian soil in Paris

Ex-shareholders of Yukos have decided not to claim on Russian soil in Paris

Moscow. July 25. Former Yukos shareholders refused the claims on Russian-owned land plot in Paris, where a spiritual and cultural centre, said the head of the International centre for the legal protection (MTSPZ) Andrey Kondakov, representing the interests of Russia in this dispute.

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“Our opponents, namely defense lawyers and former Yukos shareholders refused their claims on the land on which the completed construction of the Russian spiritual cultural center in Paris located near the Eiffel tower. Our lawyers received a notification of the plaintiff,” he said on Monday.

According to the interlocutor of Agency, this circumstance may allow you to complete this very important project (construction) in a timely manner”.

“It was one of the most resonant Affairs. It has attracted the active attention of the public and the press. The lawyers of Yukos repeatedly declared its intention to actively seek and seize the assets of Russia in France, stressing his willingness to even go for the arrest of the Church. They received the court’s decision on the suspension of construction and at the same time arrested the plot of land on which it is conducted”, – he reminded.

He did not rule out that the representatives of the former shareholders of the company in the near future may refuse other arrests and even go to full review of enforcement proceedings in some other countries.

The Hague has awarded $50 billion

In 2006, subsidiaries of Group Menatep Limited – Hulley Enterprises (Cyprus) and Yukos Universal Limited (O. man) who owned a total of 51% of Yukos, has filed a lawsuit against Russia in the Hague court with a demand to recover damages in the amount of $28.3 billion the Total amount of claims to the Russian Federation with consideration of the claim of the pension Fund Veteran Petroleum Ltd Yukos. was $33.1 billion In consequence of the amount of compensation was increased.

In July 2014 the court of Arbitration in the Hague unanimously upheld the claim of Group Menatep Limited (GML), representing the interests of Yukos and ordered Russia to pay $50 billion In November 2014, Russia filed in the District court of the Hague three applications for cancellation of arbitral awards rendered by the Hague court of arbitration on claims of former shareholders of Yukos.

The arrest of Russian property

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However, in may 2015, the former shareholders of Yukos, without waiting for the decision on the complaint of the Federation began the process of enforcement in the courts of the United States, France and the UK of the decision of the Hague court. Similar action was scheduled to begin in Belgium and the Netherlands. In mid-June, 2015 it became known that Belgium has arrested accounts of Russian institutions, including diplomatic missions, on the basis of the decision of the local court of arbitration dated 18 July 2014, at the suit of the company “YUKOS universal limited”. The amount of the claim of 1.7 billion euros. A week later, the arrest of accounts of diplomatic missions in Belgium was withdrawn.

By the same decision, the bailiffs proceeded to arrest Russian property in France. Blocking of accounts of diplomatic missions in the Bank “VTB France” took place on 2 June 2015. VTB has informed the Ministry of foreign Affairs of the Russian Federation, and for him night managed to unblock the accounts of embassies and representative offices of UNESCO and other organizations with deepstatus.

In the summer of 2015, the former shareholders of Yukos tried to claim rights to the plot on the Quai Branly on the basis of issued by a French court of exequatur for the decisions of the International Hague Tribunal. However, the court of Paris recognized the diplomatic immunity of the object and did not block the construction of the said center.

Russia promised to confront

The Russian authorities have repeatedly stated that Russia is taking adequate measures to protect their property abroad. In March a spokesman for the Investigative Committee Vladimir Markin said that the decision of the international court of arbitration in the Hague on payment by Russia of $50 billion to former Yukos shareholders is not enforceable because the plaintiffs had violated existing procedure.

Recently, the media reported that in France arrested $700 million destined to “Roscosmos”. The total amount of funds and property of the Russian Federation, arrested in France, according to some, have reached $1 billion, however, the threat of direct withdrawals from Russia funds, arrested in France at the suit of the former shareholders of Yukos, not now, said a source familiar with the situation.