HAGUE, November 5. / TASS /: The Dutch Supreme Court has overturned the judgement, ruled by the Hague Court of Appeal, regarding Russia’s payment of more than $50 bln to ex-Yukos shareholders and has ordered to review the case, the court stated on Friday.
"The Supreme Court quashed the appeal court’s final judgement as well as the court’s preceding judgement. The case has been referred to the Amsterdam Court of Appeal for renewed judgement on this ground," the statement reads.
The court noted that the cassation appeal filed by the Russian side was honored on one ground. According to the Supreme Court, "Russia’s argument that the shareholders have committed fraud in the arbitral proceedings has been wrongly dismissed by the Court of Appeal on procedural grounds and should have been judged with respect to content."
The international arbitration, established through the Permanent Court of Arbitration’s mediation, ordered Russia to pay a total of approximately $50 bln to the former major Yukos shareholders: Veteran Petroleum, Yukos Universal and Hulley Enterprises.
This verdict was challenged in the District Court of the Hague, which sided with Moscow, declaring the arbitral awards invalid in April 2016 and removing Russia's obligations to pay damages. However, in February 2020, the Hague Court of Appeal quashed the district court's decision and reinstated the arbitral awards again, obliging Russia to pay more than $50 bln. In May 2020, Russia filed a cassation appeal against this judgement to the Dutch Supreme Court.
