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Miller on the scales of Justice
09.02.2016
Gazprom and Naftogaz have entered into a new round of their fight – the companies exchanged fines for millions in January. They are also involved in proceedings with the Stockholm arbitration. The amount of their mutual claims is $60 billion, neither party having enough funds to pay in the case of a loss.
The Stockholm arbitration has yet to pass a verdict on the case for $60 billion. No wonder – the case is large and complex, one of the biggest cases in history. The claim moved by the former YUKOS shareholders against Russia, who demanded $50 billion from the State, is one of those.
Alexander Yevdokimov, Head of the Litigation and Arbitration Practice of the Law Firm “YUST”, told the Kompania magazine about yet another large case involving YUKOS: “The Court of Arbitration of the city of Moscow by its judgments exacted almost 600 billion roubles from OC YUKOS OJSC upon claims from tax authorities in 2003-2004”. The company lost $20 billion (at the exchange rates valid at the time) and went bankrupt.
The Stockholm arbitration will hardly be as agile as the Moscow one – the case may take much time.
Read more
Gazprom and Naftogaz have entered into a new round of their fight – the companies exchanged fines for millions in January. They are also involved in proceedings with the Stockholm arbitration. The amount of their mutual claims is $60 billion, neither party having enough funds to pay in the case of a loss.The Stockholm arbitration has yet to pass a verdict on the case for $60 billion. No wonder – the case is large and complex, one of the biggest cases in history. The claim moved by the former YUKOS shareholders against Russia, who demanded $50 billion from the State, is one of those.
Alexander Yevdokimov, Head of the Litigation and Arbitration Practice of the Law Firm “YUST”, told the Kompania magazine about yet another large case involving YUKOS: “The Court of Arbitration of the city of Moscow by its judgments exacted almost 600 billion roubles from OC YUKOS OJSC upon claims from tax authorities in 2003-2004”. The company lost $20 billion (at the exchange rates valid at the time) and went bankrupt.
The Stockholm arbitration will hardly be as agile as the Moscow one – the case may take much time.
Read more
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