Monday, September 22, 2014

Russia ordered to pay $50bn in damages to Yukos shareholders

Russia ordered to pay $50bn in damages to Yukos shareholders


http://www.theguardian.com/business/2014/jul/28/russia-order-pay-50bn-yukos-shareholders-khodorkovsky-court

Russia has been ordered to pay $50bn (£29.4bn) to shareholders of Yukos, the formerdefunct oil company that was broken up a decade ago after its boss fell foul of Vladimir Putin.

In a judgment against the Kremlin, a tribunal in the Hague ruled that the Russian state had sought to bankrupt Yukos, appropriate its assets and prevent its owner, Mikhail Khodorkovsky, from entering politics.
The permanent court of arbitration rejected Moscow's arguments that the assets seizure was driven by tax-collection motives, ruling that the state set out to bankrupt the oil firm in "a devious and calculated expropriation".

2 comments:

leave a reply: