Dutch appeals court annulled the decision about the Yukos bankruptcy, as per RIA Novosti. The appeals court has issued a verdict that the Netherlands do not support the decision of the Russian capital on this case made 11 years ago.
Previously, Yukos had to pay off more than five billion US dollars of taxes for prior four years. After that, the company was announced bankrupt. After the corresponding court decision, at the auction Yukos Finance B.V. shares were passed over to LLC Promneftstroy, an affiliated company of Yukos registered in the Netherlands.
Amsterdam court held that the transfer of ownership does not meet the Dutch law.
The group representing ex-shareholders of the company was content with the decision.
As per Russkiy Mir Foundation, last spring the court in Hague cancelled the decision of arbitrary court on Yukos’ case according to which the ex-shareholders should receive compensation in the amount of fifty billon US dollars. The compensation had to be paid off by Russia. The court in Hague found that the arbitrary court had no competence of arbitration necessary for this case.
Russkiy Mir
