A Swedish court has sided with Russia in a dispute over Yukos – RIA Novosti

STOCKHOLM, Jan 27 – RIA Novosti, Lyudmila Bozhko. Swedish appeals court found that the Stockholm arbitration court did not have jurisdiction on the imposition in 2012 of a number of decisions in favor of the Spanish stock companies holders of American depositary receipts for shares in Yukos in a dispute with Russia.

According to the Court of Appeal, adopted on 18 January the Spanish company will be obliged to compensate the Russian court costs and to pay three million dollars. This decree a judicial authority can be challenged before the February 15, 2016.

The basis of the decision of the court has laid down the interpretation of a bilateral agreement concluded between Spain and the Soviet Union in 1990 on the protection of investments, and taking into account relevant international instruments. His decision to a judicial body to substantiate the fact that the receipts were purchased from Deutsche Bank Trust Company Americas, which owns shares in Yukos, headquartered in New York, but because the transaction did not lead to any legal or any other relations between the two firms and Yukos.

According to the materials of the case, in 2007, after the bankruptcy proceedings of Yukos four Spanish investors have filed a lawsuit against Russia in the Stockholm arbitration with the requirement of compensation because, believed that their investments were expropriated. According to representatives of Spanish companies, receipts, which were in their possession, could be regarded as the ownership of shares of Yukos.

In turn, Russia stated that arbitration does not have jurisdiction to decide on how could the measures of a fiscal nature lead to the expropriation of certain investments.

However, the decision was made not in favor of Moscow . Court July 20, 2012 ordered Russia to pay compensation to the Russian side appealed to the District Court of Stockholm, again insisting that the tribunal does not have jurisdiction in this matter. But then the court sided with the Spanish stock companies are recognized in September 2014 Russia suit groundless.