Uphold $50B Yukos Awards, Dutch High Court Adviser Says
Law360 (April 23, 2021, 10:40 AM EDT) -- A legal adviser for the Netherlands' highest court recommended Friday that $50 billion in arbitral awards issued to the former shareholders of Yukos Oil Co. be upheld, concluding Russia's grounds for vacating them are not strong enough.
Advocate General Paul Vlas said Russia's arguments that the tribunal lacked jurisdiction since the country had never agreed to be bound by the arbitration regulations of the underlying treaty, the Energy Charter Treaty, are unfounded.
Nor was he convinced by the Kremlin's arguments that the awards are invalid since the former shareholders allegedly acquired their investment through fraud and bribery, saying the ECT doesn't...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!