The court in Hague has canceled the decision about Russia to pay 50 billion dollars to the “YUKOS” shareholders News

The court in Hague has canceled its own previous decision about Russia to pay compensation amounting 50 billion dollars to former shareholders of “YUKOS”. The plaintiffs are the companies Hulley Enterprises, Yukos Universal and Veteran Pertoleum.

The court in Hague has canceled the decision about Russia to pay 50 billion dollars to the “YUKOS” shareholders News

The previous decision of the Arbitration Court in Hague regarding Russia to pay the compensation amounting 50 billion dollars to former shareholders of “YUKOS” today was canceled by the Court in Hague.  Today in International center of legal protection who represents interests of Russia in the Court of Hague it was informed About the win of Russian protection side who filed an appeal against the decision of the Arbitration Court and argued that arbitration had no competence to consider claims of this kind.

At this stage sides are supposed to continue the litigation. According to the law the plaintiffs can fill an appeal to the Court of Appeal or to the Supreme court of the Netherlands.

The Russian side had claimed many times that the case of former shareholders of “YUKOS” must be considered in Russian court, “because they are shell companies which are controlled by Russian citizens”. Primarily the question is about Mikhail Khodorkovsky.

The court in Hague has canceled the decision about Russia to pay 50 billion dollars to the “YUKOS” shareholders News

We will remind that in July 2014 the Arbitration Court in Hague has satisfied the claim of former shareholders of the oil company “YUKOS” and ordered Russia to pay them 50 billion dollars as a compensation for the expropriation of the company. In the same month the European human rights court ordered Russia to pay compensation amounting 1,86 billion dollars and 300 thousand euro as a compensation of legal costs to the same plaintiffs. In spite of Russian side filled an appeal, some states said for the arrest of Russian property situated at their territory in favor of “YUKOS” shareholders. The first country who came to such decision was France.