The Dutch Supreme Court overturned the decision of the Court of Appeals which ordered the Russian company Yukos to pay $ 50 billion in damages to its former shareholders.
The statement from the Supreme Court said that the Court of Appeals in The Hague, which had ruled against Russia, had annulled the decision.
Considering Russia’s objection to the decision of the Court of Appeals for three reasons, the Supreme Court accepted one of these objections and rejected two of them.
In its ruling, the Supreme Court overturned the compensation order on the grounds that the Russian government’s objections that Yukos’s former shareholders had committed irregularities in the arbitration process were ignored and not adequately investigated by the Hague Tribunal.
According to the decision, in the next stage, the case will be handled by the Amsterdam Court of Appeal.
– The case has continued since 2014
In its 2014 ruling, the International Court of Arbitration ordered Yukos to pay $ 50 billion in compensation to its three former shareholders on the grounds that they manipulated Russia’s legal system and forced Yukos chief Mikhail Khodorkovsky to go to jail and forced the company into bankruptcy.
Russia appealed the decision to The Hague District Court, and the court upheld the ruling in 2020, which ordered Russia to pay compensation to Yukos’ former shareholders.
Russia took the ratification decision to the Dutch Supreme Court.
Furthermore, the European Court of Human Rights (ECHR) ruled in its 2011 decision that Russia violated the right to a fair trial on the grounds that “Yukos’s lawyers were not given the necessary time to defend themselves. ”.
– Khodorkovsky spent 10 years in prison
Mikhail Khodorkovsky was once Russia’s richest businessman, who transformed Yukos into Russia’s largest private oil company after the collapse of the former Soviet Union. However, Khodorkovsky was convicted of fraud and tax evasion and sentenced to 10 years in prison.
The famous businessman was released from prison with a special amnesty decree signed by Russian leader Vladimir Putin.
After Yukos went bankrupt, most of the shares were taken by the state-owned company Rosneft.AA
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