"Rosneft" has archived the YUKOS case
After ten years of litigation with former structures of YUKOS, Rosneft, which seemed to have no clear arguments in its favor, declared a truce and a settlement of all claims – to the total of 3 billion US dollars. Neither party pays any compensation. According to Kommersant, this is due to that Rosneft actually had tangible chances to turn the situation in its favor and even to recover a part of the 1,5 billion US dollars already paid to the adversary. However, the reconciliation will not affect the former shareholders of YUKOS’ much larger – 50 billion US dollars - claims in any way.
Rosneft declared yesterday that it had entered into a settlement agreement with 14 companies controlled by the former top managers of YUKOS Stephen Teddy, Bruce Misamore, David Godfrey and Armen Mikaelyan. The parties dropped all mutual claims, ended “court and other disputes” and undertook to never again raise the matters of YUKOS bankruptcy and dissolution. Rosneft specially pointed out that no monetary or other payments were stipulated by the agreement. The deal was closed on March 31, the parties signed all documents on withdrawal of all trials in Holland, England, Russia, USA and elsewhere <...>
Evgeny Zhilin, Managing Partner of the Law Firm "YUST", believes that the dispute concerning the interest and the losses had fewer chances of success than the main claim on Yuganskneftegaz.
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