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Dutch Court overturns decision to pay RF to former Yukos shareholders
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In the Netherlands, the Supreme Court has satisfied one of the grounds for the appeal of the Russian Federation, the case will be reviewed.
The Dutch Supreme Court ruled in Russia’s favor, ordering the Amsterdam Court of Appeal to reconsider Russia’s decision to pay more than $ 50 billion from Russia to former Yukos shareholders. On Friday, November 5, reports Interfax.
“The Supreme Court ruled in favor of the Russian Federation on one point. As the court considered, for procedural reasons, the Hague Court of Appeal erroneously ignored the argument of the Russian Federation that the shareholders (Yukos – ed.) Allegedly committed fraud in the framework of the arbitration procedure, and therefore did not made a decision on the merits in this part, “- said in the message of the Supreme Court of the Netherlands.
The rest of the arguments of the Russian Federation on the decision were rejected – on the relevant points, the decision of the Court of Appeal is final.
The court’s report notes that last year the Court of Appeal in The Hague upheld a 2014 arbitration award, in which the Russian Federation was ordered to pay compensation in the amount of about $ 50 billion to three former major shareholders of the Yukos oil company.
“Today, the Supreme Court overturned the final decision of the appellate court, as well as the previous decision of the court. The Supreme Court satisfied one of the grounds for the appeal of the Russian Federation. (…) The rest of the grounds were rejected,” the Dutch Supreme Court said.
As previously reported, the Dutch court rejected RF petition in the Yukos case.
Yukos case: Russia appealed against the decision of the Hague court to pay $ 57 billion
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