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Russia calculated the maximum amount of losses from property seizure under the YUKOS case
03.08.2015
In June of the current year, the bailiffs of France and Belgium have begun executing court judgments on seizure of Russian assets. The seizures are done upon the judgment of the Court of the Hague dated July 18 of 2014, according to which, Russia is obliged to compensate the “expropriation of property” by paying 50 billion US dollars to the former owners of YUKOS.
Partner of the Law Firm "YUST" Alexander Bolomatov commented for Rbc.ru on whether the bailiffs will be able to seize all buildings of the Executive Office of the President located abroad against the debt to the YUKOS shareholders: “The buildings of embassies and other diplomatic missions may only be seized if it is proven that they are used for commercial rather than diplomatic purposes”.
The property of diplomatic missions used by them in their work is absolutely immune, but those buildings which are leased may be sold against the debt.
Read more
In June of the current year, the bailiffs of France and Belgium have begun executing court judgments on seizure of Russian assets. The seizures are done upon the judgment of the Court of the Hague dated July 18 of 2014, according to which, Russia is obliged to compensate the “expropriation of property” by paying 50 billion US dollars to the former owners of YUKOS.
Partner of the Law Firm "YUST" Alexander Bolomatov commented for Rbc.ru on whether the bailiffs will be able to seize all buildings of the Executive Office of the President located abroad against the debt to the YUKOS shareholders: “The buildings of embassies and other diplomatic missions may only be seized if it is proven that they are used for commercial rather than diplomatic purposes”.
The property of diplomatic missions used by them in their work is absolutely immune, but those buildings which are leased may be sold against the debt.
Read more
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