Yukos shareholders will cease to demand the arrest of the Russian cultural center in Paris

Yukos shareholders will cease to demand the arrest of the Russian cultural center in Paris


Moscow. September 29. Former Yukos shareholders refused from the idea to arrest the construction of a Russian spiritual and cultural complex on the waterfront in Paris, as part of a claim for compensation, said the General Director of the International centre for the legal protection Andrey Kondakov.

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“Today at a hearing in the high court of Paris, lawyers for the company Hulley Enterprises, one of the former majority shareholders of Yukos, announced plans to stop attempts to suspend the construction of spiritual-cultural complex on Quai Branly near the Eiffel tower) and put a lien on this property,” Kondakov said on Thursday.

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According to him, this step was a logical consequence of the decision on the recognition of diplomatic immunity complex, adopted by the same court on 28 April 2016. “This will guarantee completion of the cultural object in time in October 2016,” said Kondakov.

He recalled that initially, in June 2015 lawyers Hulley made the arrest of the land, where Russia is building an Orthodox Church in the context of proceedings to enforce the decision of the Hague court of arbitration, awarded in 2014 to the former shareholders $50 billion of compensation for loss of Yukos. “The seizure of land for construction of Orthodox shrines in the centre of Paris was one of the most high-profile cases that have attracted the attention of the public and the press”, – said the head of MTSPZ.

He noted that the decision taken by the former shareholder of Yukos decision “is an important step towards removing the serial arrests of movable and immovable property held in the summer of 2015 in France.”

“It continues in recent months the trend of the opinion of the Executive proceedings and arbitral claims initiated by former shareholders of Yukos against Russia”, – said Kondakov. In particular, said the lawyer, in July 2016 enforcement proceedings were withdrawn in Germany and India, and on 28 September it became known about the termination of the arbitral proceedings on the claim other affilirovannoj Yukos company – Financial Performance Holdings.

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