Russia asks Dutch crt to halt enforcement on ex-Yukos holders suits

MOSCOW, Oct 29 (PRIME) -- Russia has asked the Supreme Court of the Netherlands to suspend the enforcement of rulings on lawsuits by ex-shareholders of defunct oil company Yukos, hearings are scheduled for Friday, Deputy Justice Minister Mikhail Galperin, the Russian representative at the European Court of Human Rights, told PRIME on Thursday.

“On October 30 (Friday), hearings in the Supreme Court of the Netherlands will take place on the application of the Russian Federation to suspend the enforcement of arbitration rulings on lawsuits by former Yukos shareholders,” Galperin said.

In June, the Supreme Court of the Netherlands ruled admissible Russia’s cassation appeal against the decision of the Hague Court of Appeal to recover U.S. $57 billion in favor of the former Yukos shareholders. Initially, the arbitration court ruled to recover $50 billion from Russia, then the ruling was overturned by the Hague District Court, but in February the Hague Court of Appeal again sided with the shareholders. The ministry said that with account for penalties, the amount increased to $57 billion.

The supreme court is now to evaluate Russia’s claims about multiple legal errors that the court of appeal made.

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