“Rosneft” settle disputes with companies of Yukos – BBC Russian

• April 1, 2015

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In 2006, the Moscow Arbitration Court declared Yukos bankrupt. The company was liquidated, and its main assets acquired state-controlled “Rosneft”.

“Rosneft” and some of its subsidiaries entered into an agreement for the settlement of disputes with companies of Yukos and controlling these companies by individuals.

“In accordance with the terms of the agreement the parties waive all mutual claims and cease all existing legal and other disputes, and agree to indemnify each other any claims in the future in connection with the bankruptcy and liquidation of “YUKOS”, – said in a statement, “Rosneft”.

According to the “Rosneft”, concluded the agreement does not provide for any monetary or other benefits from the “Rosneft” or its affiliated companies.

The official representative of Yukos Claire Davidson confirmed the conclusion of the agreement.

” The two Dutch organizations that represent the interests of the former shareholders of the oil Yukos, a confirmation message of the oil company “Rosneft” that all existing litigation between the parties to cease, and that an agreement was reached on the settlement, “- said BBC Russian Service Claire Davidson, adding that the agreement enters into force immediately.

The representative of Yukos stressed that the terms of the agreement are confidential.

dispute with “Rosneft”

In 2006, the Moscow Arbitration Court Yukos bankrupt. The company was liquidated, and its main assets acquired state-controlled “Rosneft”.

February 11, one of the former “daughters” of the company – the Dutch Yukos International UK BV – won by the Arbitration Court of Amsterdam lawsuit against “Rosneft”, which had to pay Yukos Int to 333 million dollars.

The beginning of this trial was started in 2005, when the top management of Yukos to protect their foreign assets complicated ownership structure abroad.

In Specifically, the main assets were transferred from Yukos Finance, a 100% owned by Yukos, the company Yukos Int. Then there were two special fund, which transferred control of Yukos Int. Thus, in two moves the company’s management best protect the property from the Russian claims.

However, when the funds have tried to sell their shares in the Slovakian pipeline company Transpetrol and Lithuanian oil refinery Mazeikiu Nafta, in the way they stood up “Rosneft” . By the time she shopper key Yukos assets in Russia had repurchased debt Yukos $ 450 million, and laid claim to part of the proceeds from the sale of its foreign assets.

In 2008, “Rosneft” has been achieved by Dutch court arrest of accounts, which were kept the proceeds from the sale of fund assets (about 1.5 billion US dollars). The ban in force until January 2011. After he was shot, Yukos Int required to compensate for her money that she received less as a result of not being able to invest frozen funds and make a profit.

the ECHR and the Court of Justice

In the Yukos also stressed that the agreement between “Rosneft” and the group companies Yukos has no relation to the claim of the ECHR to the Russian authorities and other lawsuits Yukos.

“This agreement does not As for the lawsuit against Yukos Russian Federation at the European Court of Human Rights, which in July 2014 ordered the Russian Federation to pay more than 1.8 billion euros. The arbitration proceedings against the Russian Federation under the Energy Charter will continue, as well as all legal actions against Yukos “Promneftstroya” because of his involvement in the fraudulent auctions related to expropriation of Yukos, “- said Claire Davidson.

In July last year, the European Court of Human Rights ordered Russia to pay 1.87 billion euros to the former shareholders of Yukos as compensation for the company committed against violations of the right to respect for property and the right to a fair trial.

July 28 International Court of Arbitration in The Hague ordered Russia to pay the former owners of Yukos slightly more than $ 50 billion. Claims against the Russian government filed a company GML (in the past called Group Menatep Limited), owned by the former shareholders of Yukos. Russian Ministry of Finance did not agree with the conclusions of authorities and reported on filing a complaint against the court decision.

January 28 this year, the Russian Ministry of Finance said that he had sent three requests to the District Court of The Hague to revoke the arbitration award.

As confirmed by the Ministry of Finance then, in mid-January in the amount of 50.1 billion dollars, which the country has to pay ex-Yukos shareholders to address the Hague arbitration shall bear interest. It is estimated that a day is added to the total debt of about $ 2.6 million.