YUKOS Shareholders v Russia (The Hague, 2009-2014)

Essential reading:

Court orders Russia to pay $50 billion for seizing Yukos assets

http://www.reuters.com/article/2014/07/28/us-russia-yukos-idUSKBN0FW0TP20140728

Hague Court; Russia Did Steal Yukos And Must Pay $50 Billion Damages

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

Additional reading:

Yukos v. Russia: Issues and legal reasoning behind US$50 billion awards

https://www.iisd.org/itn/2014/09/04/yukos-v-russia-issues-and-legal-reasoning-behind-us50-billion-awards/

Technical reading:

Final Awards Issued in 3 Arbitrations Between Former Shareholders of Yukos and the Russian Federation

http://www.pca-cpa.org/shownews.asp?nws_id=440&pag_id=1261&ac=view

Documents

http://www.pca-cpa.org/showpage.asp?pag_id=1599

Issues for discussion:

1)      What were the grounds for arbitration tribunal’s jurisdiction?  

2)      Do you think Russia must comply with a treaty its parliament has not ratified? Why or why not?

3)      Yukos went bankrupt because of tax claims.  Do you think this amounted to an “expropriation” in terms of the treaty (ECT)?

4)      Did Yukos abuse Russian tax law, according to the tribunal?  How did the abuse, if any, affected the award?

5)      What was the amount of the award?  How it was calculated?