YUKOS Unit Wins $389.3 mln in Dutch Court
29 Apr 2009
Reuters
A Dutch court ordered Rosneft to pay $389.3 million to YUKOS Capital, a former affiliate of YUKOS.
The arbitration unit of Russia's Chamber of Commerce had originally ordered Rosneft to pay back money lent to Yugansk by YUKOS Capital - a ruling that was subsequently overturned by Russia's Supreme Arbitration Court. But on April 28, a Dutch court of appeals declared that the original ruling was still enforceable.
The ruling is being reported as "the first success in a foreign court for former YUKOS managers seeking redress after the state bankrupted the oil company for tax debts and sold off its assets."