The Hague’s Court of Appeal refuses oligarchs’ request for bifurcation of the case (splitting into two parts)
The Hague Court of Appeal dismissed the Yukos oligarchs’ requests for bifurcation and the reversal of the filing sequence. Had the court granted the split as requested, the appeal proceedings would have been delayed for years.
The Russian Federation wins the first round in the Dutch Yukos appeal
On the 22 September 2016, the Yukos oligarchs lost their bid to limit their appeal to whether a multilateral treaty applies in the dispute. The court ordered that the oligarchs must address all issues raised by Russia in the appeal rather than only consider the application of the ECT
The Yukos oligarchs file appeal
The oligarchs sent a notice of appeal against the District Court of the Hague’s decision to set aside the awards made by the a panel of three arbitrators in The Hague
The Hague District Court sets aside the $50bn arbitration awards
The District Court of the Hague set aside the $50bn awards made against Russia for the alleged expropriation of Yukos. The court ruled that as Russia had not ratified the Energy Charter Treaty, the arbitration court had no jurisdiction on the matter.
A panel of three arbitrators in the Netherlands ordered the Russian Federation to pay over $50bn in compensation for the indirect expropriation of Yukos
The Yukos oligarchs won an unprecedented $50bn billion awards against the Russian Federation. Russia said they would appeal the ruling in the Dutch courts, criticising the “seriously flawed” judgement as “politically biased”.