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Russia gets partial win in $50B case over bankrupt oil giant

Associated Press

THE HAGUE, Netherlands (AP) — The Dutch Supreme Court has handed Russia at least a temporary victory in its appeal of a $50 billion arbitration award to former shareholders of bankrupted oil giant Yukos. The decision Friday quashed a lower court ruling, effectively setting aside a $50 billion award made to the former shareholders in 2014 and sending the case to another court in Amsterdam to consider Russian claims that the shareholders committed fraud in the original arbitration hearings. However, the highest Dutch court rejected the rest of Russia’s arguments, a move welcomed by the former shareholders. Russian officials welcomed the ruling but said “it is regrettable” the court didn’t dismiss the award outright.

Associated Press

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