Enforcement of Arbitral Awards Annulled in Russia
Introduction
The case concerned a dispute between Yukos Capital Sarl (Yukos Capital) and OAO Rosneft (Rosneft) concerning four loan agreements between Yukos Capital as lender and OJSC Yuganskneftegaz (Yugansneftegaz) as borrower concluded at the time that Yukos Capital and Yuganskneftegaz formed part of the Yukos group. Subsequent to an auction, Rosneft acquired the majority of the shares in Yuganskneftegaz. A dispute about the loans ensued and Yukos Capital filed for arbitration with the International Court of Commercial Arbitration at the Chamber of Trade and Industry of the Russian Federation. By four Arbitral awards of September 19, 2006, the arbitrators decided that Yuganskneftegaz was to pay Yukos Capital some 13 bilion roebel (exclusive of interest and costs)
Enforcement of Arbitral Awards Annulled in Russia- Albert Jan Van Den Berg Download