Yukos
1993–2007 Russian oil and gas company
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November 5 2021 | The Dutch Supreme Court struck down the previous arbitration order for Russia to pay $50 billion to former Yukos shareholders and referred the case back to the Amsterdam Court of Appeal. |
February 2020 | The previous court decision was overturned, reinstating the enforcement of the arbitration ruling against the Russian government. |
2017 | The Constitutional Court of Russia overturned the European Court of Human Rights' demand for the Russian government to pay €1.9 billion to Yukos shareholders. The Council of Europe subsequently condemned Russia's refusal to comply with the Court's ruling, arguing it would have significant consequences for human rights protection in Russia and Europe. |
2016 | The Swedish appeal court overturned the previous arbitration tribunal decisions from 2010 and 2012 that had initially ruled in favor of Yukos investors. |
April 20 2016 | The District Court of The Hague quashed the Permanent Court of Arbitration's decisions, ruling it had no jurisdiction. |
January 28 2016 | The Swedish appeal court upheld the Russian appeal, ruling that the Arbitration Institute of the Stockholm Chamber of Commerce did not have jurisdiction to arbitrate the Yukos shareholders case. |
July 14 2015 | The Russian Constitutional Court ruled that ECHR judgments do not override the Russian constitution, stating that Russia can step back from its obligations to avoid constitutional violations. The court had not yet reviewed the specific Yukos case at this time. |
June 17 2015 | Belgian court bailiffs notified 47 Belgian and Russian companies of asset freezes related to the Yukos arbitration ruling, amounting to approximately 1.65 billion euros. |
June 15 2015 | Russia missed the deadline to submit a compensation plan for Yukos shareholders to the Council of Europe. On the same day, over 90 Russian State Duma deputies requested the Constitutional Court to clarify the application of European Court of Human Rights (ECtHR) writs of execution in Russia. |
April 2015 | Yukos Capital and Rosneft settled all outstanding litigation across multiple jurisdictions, with claims exceeding 400 million British pounds, and agreed not to make future claims related to Yukos's bankruptcy and liquidation. |
January 2015 | Russia missed the deadline to pay the full arbitration award and petitioned the court to set the award aside on technical grounds. |
2014 | A New York court ordered Samaraneftegaz to turn over assets to satisfy a $186 million judgment to Yukos Capital and restrained asset transfers. |
2014 | The Stockholm District Court dismissed Russia's challenge and concluded that Spanish funds should be awarded costs. |
December 2014 | The European Court of Human Rights (ECtHR) rejected Russia's appeal against a previous ruling and gave Russia six months to develop a plan for distributing the awarded compensation, in consultation with the Council of Europe. |
July 31 2014 | The ECHR awards Yukos shareholders and their heirs €1.87 billion ($2.6 billion) in compensation, plus 300,000 euros in costs and expenses, for Russia's unfair treatment of Yukos Oil Company. |
July 28 2014 | The Permanent Court of Arbitration rendered a decision awarding Yukos shareholders $50 billion against Russia, with the court unanimously finding that an expropriation of Yukos had taken place. |
2013 | Yukos Capital asked the United States District Court for the Southern District of New York to confirm a $421 million arbitration award against Rosneft. |
January 2013 | At the Court of Appeal of Paris, Rosneft's oil extraction subsidiary OAO Tomskneft successfully challenged enforcement of the international arbitral award in France. |
2012 | The Spanish shareholders won a unanimous arbitration award against Russia, with the tribunal ruling that Russia used 'illegitimate' tax bills to bankrupt and nationalize Yukos. The tribunal awarded the shareholders $2 million plus interest, valuing Yukos at $62.1 billion (or $83 billion with interest). |
2012 | The Supreme Court of Sweden decided it could proceed with the arbitration proceedings challenging Russia's jurisdiction objection. |
2012 | The Court of Appeal of England and Wales rejected Yukos Capital's argument about Dutch judgment treatment, allowing Rosneft to defend based on Russian annulment decisions. |
2012 | Another Stockholm arbitration tribunal ruled in favor of Yukos investors from Spain, seeking compensation under bilateral investment protection treaties. |
March 8 2012 | The ECHR ruling becomes final after the Grand Chamber does not accept Yukos Oil Company's request to refer the application to the Grand Chamber. |
September 20 2011 | The European Court of Human Rights announces its decision, finding that the Russian state violated Yukos' human rights in legal proceedings and property protection, particularly regarding tax assessments from 2000 to 2003. |
June 2011 | The English Commercial Court decided issues in favor of Yukos Capital. |
2010 | A UK court froze £425 million held in Rosneft's UK bank accounts to enforce Yukos Capital's claim, marking the first significant impact on Rosneft from its Yukos asset acquisition. |
2010 | A Stockholm arbitration tribunal ruled in favor of Yukos investors from the United Kingdom, demanding compensation under bilateral investment protection treaties. |
2010 | The Supreme Court of the Netherlands issued a final ruling ordering Rosneft to pay $389.3 million in claims. Rosneft paid the awards but refused to pay $160 million in post-award interest. |
2010 | The tribunal ruled that Russia's actions constituted unlawful expropriation, determining that the state's measures were intended to destroy Yukos and gain control over its assets. The court awarded Yukos shareholders $3.5 million in damages. |
March 4 2010 | Yukos Oil Company hearing on merits takes place at the European Court of Human Rights, represented by Piers Gardner, with the Russian side represented by Georgy Matyushkin and Michael Swainston. |
This contents of the box above is based on material from the Wikipedia article Yukos shareholders v. Russia, which is released under the Creative Commons Attribution-ShareAlike 4.0 International License.