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GML to press for recognition of $50 bln ruling against Russia

14:10 16/01/2015

MOSCOW, January 16 (RAPSI) - Group Menatep Limited (GML) will continue registering the decision of the Hague Arbitration, which ruled that Russia must pay over $50 billion to Yukos ex-shareholders, a GML representative told RIA Novosti this Friday.

Last July, the Hague Permanent Court of Arbitration issued a ruling in the lawsuit of three companies representing former shareholders of Yukos.

The verdict states that Hulley Enterprises and Yukos Universal Limited, GML’s subsidiary companies registered in Cyprus that owned a total of 51% of Yukos’ shares, must be granted $39.9 billion and $1.85 billion in damages, respectively, while Veteran Petroleum Ltd., a Yukos pension fund, will receive $8.2 billion.

“GML has not yet received any payments after the order of the Permanent Court of Arbitration in The Hague came into force on July 28, 2014. Therefore, GML will continue registering the court’s ruling in jurisdictions of other countries in order to freeze non-diplomatic assets of the Russian state,” the spokesperson said.

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GML to press for recognition of $50 bln ruling against Russia

14:10 16/01/2015 Group Menatep Limited (GML) will continue registering the decision of the Hague Arbitration, which ruled that Russia must pay over $50 billion to Yukos ex-shareholders.
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