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The Hague: Russia owes Yukos shareholders $50Billion

 
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Kuros



Joined: 27 Apr 2004

PostPosted: Mon Jul 28, 2014 6:47 pm    Post subject: The Hague: Russia owes Yukos shareholders $50Billion Reply with quote

http://www.npr.org/2014/07/28/336123279/international-court-rules-against-russia-in-50-billion-decision

http://www.forbes.com/sites/timworstall/2014/07/28/hague-court-russia-did-steal-yukos-and-must-pay-50-billion-damages/

Quote:
In the Final Awards, the arbitral tribunals unanimously held that the Russian Federation had taken measures with the effect equivalent to an expropriation of Claimants’ investments in Yukos and thus had breached Article 13(1) of the Energy Charter Treaty. As a result, the Russian Federation was ordered to pay damages to compensate Claimants. At the same time, the arbitral tribunals found some contributory fault on behalf of Claimants, leading them to reduce the amount of damages awarded.


So, the Russian gov't is at fault, but so were some of Yukos's shareholders.

Quote:
Under that Energy Charter Treaty the Russian Government, the State, has every right to nationalise or otherwise takeover the assets, licences or property of anyone or any company that it so wishes to deal with in that manner. Governments do have sovereignty after all. However, under that same treaty it has also promised that it would properly compensate investors if that’s what they decide they want to do. Russia did not compensate Yukos shareholders therefore the government is in the wrong here. Yukos itself, plus some of the actions of the shareholders, were not entirely kosher either (it’s not exactly a surprise to anyone at all that in the Yeltsin years there was a certain amount of tax dodging going on in Russia) therefore they don’t get the full amount of damages claimed, $100 billion, but that lower award of $50 billion.


That's going to be . . . a difficult amount to collect in full.
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Titus



Joined: 19 May 2012

PostPosted: Tue Jul 29, 2014 5:09 am    Post subject: Reply with quote

I note that not a single story lists who the creditors are.

Soros & Rothschild.

Some western kangaroo court says Russia owes Soros & Rothschild (among others) 50b.
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Titus



Joined: 19 May 2012

PostPosted: Tue Jul 29, 2014 5:15 am    Post subject: Reply with quote

http://www.ft.com/intl/cms/s/0/b01cfb72-1669-11e4-8210-00144feabdc0.html?siteedition=uk#axzz38qwjAITc

Quote:
One person close to Mr Putin said the Yukos ruling was insignificant in light of the bigger geopolitical stand-off over Ukraine. “There is a war coming in Europe,” he said. “Do you really think this matters?”
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