Court reinstates order for Russia to pay $50 bln over Yukos

Legal Compliance

In a major legal defeat for the Russian government, a Dutch appeals court on Tuesday reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos.

The ruling overturned a 2016 decision by The Hague District Court that quashed the compensation order on the grounds that the arbitration panel did not have jurisdiction because the case was based on an energy treaty that Russia had signed but not ratified.

The Hague Court of Appeal ruled that the 2016 decision “was not correct. That means that the arbitration order is in force again.”

“This is a victory for the rule of law. The independent courts of a democracy have shown their integrity and served justice. A brutal kleptocracy has been held to account,” Tim Osborne, the chief executive of GML, a company made up of Yukos shareholders, said in a statement.

The Russian Justice Ministry said in a statement after the verdict that Russia will appeal. It charged that the Hague appeals court “failed to take into account the illegitimate use by former Yukos shareholders of the Energy Charter Treaty that wasn’t ratified by the Russian federation.”

Related listings

  • Colorado baker who sparked Supreme Court case has book deal

    Colorado baker who sparked Supreme Court case has book deal

    Legal Compliance 01/31/2020

    The Colorado baker whose refusal to design a wedding cake for a gay couple led to a landmark Supreme Court ruling and made him a conservative hero now has a book deal.Jack Phillips' memoir, currently untitled, will be released this summer by Salem Bo...

  • Democratic states appeal Obamacare ruling to Supreme Court

    Democratic states appeal Obamacare ruling to Supreme Court

    Legal Compliance 01/02/2020

    In a move that could put the Obama-era health law squarely in the middle of the 2020 election, Democratic-led states Friday asked the Supreme Court for a fast-track review of a recent appeals court decision declaring a key part of the law unconstitut...

  • Ohio Republicans defending state congressional map in court

    Ohio Republicans defending state congressional map in court

    Legal Compliance 03/11/2019

    Attorneys for Ohio Republican officials will call witnesses this week to defend the state's congressional map.A federal trial enters its second week Monday in a lawsuit by voter rights groups that say the current seats resulted from "an unconstitutio...

Victorville CA DUI defense Attorneys

The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.

The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.

Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .