The Russian Federation filed three writs that seek to annul the award, alleging that the arbitrators did not fulfil their mandate personally because the Tribunal’s assistant played a significant role in analyzing the evidence and legal arguments.
On 28 July 2014, an international arbitration tribunal announced that Russia must pay $50.02 billion in damages to former shareholders of the now defunct oil giant, Yukos Oil Company. Analysis by Kavaljit Singh.
Russian businesses and banks that face losses from the European Union’s bailout of Cyprus are considering legal action but may have a hard time making a case, say lawyers who are combing through treaties find strategies to recover funds.
The Kremlin will face yet another legal headache on Tuesday over its role in the break-up of Yukos after US attorneys began an arbitration proceeding in Spain on behalf of Spanish investors who were allegedly hurt by the Yukos affair.