Former Yukos shareholders demanding the arrest of Russian property – business courses

The former shareholders of oil company Yukos, Russia, according to the court is obliged to pay 50 billion dollars, was asked to arrest the Russian foreign-owned property .

“We have requested the execution of the sentence in the UK , France and the US “, – said the head of the consortium GML Tim Osborne. In addition, according to the lawyer, the former shareholders have looked after facilities in the Netherlands and Belgium. Also, before the summer GML prompt execution of the judgment in the Regional Court of Berlin, Osborne said.

According to Osborne, this step is necessary, since Russia refuses to make the payment on account of 50 billion fine imposed by the court of arbitration of the Netherlands.

Meanwhile, this is the first time in history when private investors require the State to such a large sum in compensation. In addition, the arrest of Russian property may have unintended consequences: a dispute over the payment of the fine could seriously complicate the strained relations since the West and Russia. And German companies are growing concerns that in response to the arrest of Russian property abroad Moscow may also start arresting foreign property in Russia.

At this point it is not known what objects required to arrest the former shareholders of “Yukos”. This information is kept in secret. In favor of shareholders may confiscate any assets and property, with the exception of embassies.