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Main » 2016 » April » 20 » Hague court invalidated the claims of former Yukos shareholders
Hague court invalidated the claims of former Yukos shareholders

The Hague District Court overturned the decision of the Permanent Court of Arbitration, in 2014 ordered Russia to pay $ 50 billion to the former shareholders of Yukos Hulley Enterprises, Yukos Universal and Veteran Petroleum. On the decision of the court reported by Bloomberg However, litigation will continue, as the former shareholders of appeal against today's decision in the appeal court of The Hague. Then, the losing side will have the chance to appeal to the Supreme Court of the Netherlands.



It is clear that in any case, Russia would not have to pay that amount. It is more like a war reparations than on any compensation. Yukos, even at the time of the transaction with "Sibneft" never was worth $ 50 billion. The company was privatized in favor of the former shareholders on the pledge auction for a very controversial scheme. Implemented and then transition to a single share devalued minority shareholders of subsidiaries.

The reason for the bankruptcy of Yukos was the gray tax optimization. This bankruptcy was carried out strictly within the law, taking into account the assets of liabilities had been sold at fair prices. Portfolio investors are very long to sell Yukos shares at a fair price.

Naturally, in the Yukos case it was also a political component. Parliamentary Republic and Prime Minister Mikhail Khodorkovsky. However, after the failure of the Communist Party and liberal parties in the 2003 elections, this idea proved to be unsustainable.

A source




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