The Yukos Saga Continues: The Bold Decision of the Dutch Court to Set Aside the US$50 Billion Yukos Award
The Hague Commercial Court yesterday issued a decision setting aside the US$50 billion arbitral award made against the Russian Federation by an eminent arbitral tribunal established under the Energy Charter Treaty (ECT) in respect of unlawful expropriation.
The Dutch Court concluded that the dispute resolution provisions of ECT did not apply to the Russian Federation, on the basis that it had signed but not ratified the treaty.
This alerter by Matthieu Gregoire sets out the reasons for that decision and considers what the ramifications might be.
Read the alerter in full here.