When The Hague District Court annulled the Yukos awards on 20 April 2016 for a lack of a valid arbitration agreement, it did not consider it necessary to rule on the other grounds raised by the Russian Federation, in particular the argument that the Tribunal failed to personally fulfill its duty because of the alleged […]
Russia’s Strategy on Quantum – Yukos Arbitration
RUSSIA’S STRATEGY NOT TO RESPOND SUBSTANTIVELY TO QUANTUM IN THE YUKOS ARBITRATION In order to help the Tribunal reach a proper valuation of Yukos Oil Company, Claimants put forward 13 possible scenarios. The claims ranged from USD 30 billions to USD 114 billions (Final Award, para. 1701 – 1710) and the three main sets of […]
Investor-State Emergency Arbitrator Award Enforced
Investor-State Emergency Arbitrator Award Enforced An investor-State emergency arbitrator award was enforced by a domestic court in Ukraine, as was initially reported by the Global Arbitration Review. This decision is interesting since it is the first known enforcement of an emergency arbitrator award against a State. Emergency arbitrator awards are non-binding on an arbitral tribunal, but remain in […]
Overview of the Yukos Arbitration
OVERVIEW OF THE YUKOS ARBITRATION Few arbitration awards in the past years have attracted as much attention as the Yukos arbitration between shareholders of the company and the Russian Federation. After 10 years of proceedings, on 18 July 2014, the Tribunal issued a 600-page award awarding USD 50 billions in damages, legal fees of USD […]
Yukos Owners Win Largest Arbitration Award In History Against Russia For “Devious And Calculated” Expropriation
Yukos Owners Win Largest Arbitration Award In History Against Russia For “Devious And Calculated” Expropriation. Yukos’ owners have won the largest arbitration award in history against Russia for what was determined by an international arbitration tribunal to be a “devious and calculated” expropriation of its assets. Russia has been ordered to pay over USD 50.2 billion to […]