Region: Russian Federation

LCIA panel upholds Russian bank fraud claim

An LCIA tribunal has reportedly upheld fraud claims by two bailed-out banks against companies linked to the family of a Russian property tycoon but is still to rule on a claim for US$475 million in losses.

17 December 2021

What the Dutch Supreme Court decided in the Yukos case

Stan Putter of Smallegange Lawyers explains why the recent Dutch Supreme Court judgment on the US$50 billion Yukos awards against Russia didn’t bring the closure the parties were expecting and leaves the status of the awards “ambiguous”.

17 December 2021

Russian and Italian banks win round of oil services dispute

An English court has upheld a US$43 million LCIA award in favour of Russia’s Gazprombank and its Italian partner in an oil services venture while refusing to disqualify the arbitrators from related arbitrations.

14 December 2021

Contempt case against Deripaska revived on appeal

The Court of Appeal in London has ruled that former Russian deputy finance minister Vladimir Chernukhin can proceed with his bid to have Oleg Deripaska committed to prison for contempt of court – also finding that a judge’s criticism of Clifford Chance arbitration partner Marie Berard “may not have been fair”.

30 November 2021

Norilsk Nickel settles with Botswana over botched asset sale

The world’s largest nickel producer says it is has settled a dispute with the Botswanan government over the aborted sale of its African assets, which gave rise to an LCIA claim worth US$277 million.

18 November 2021

Breathing space for Russia after Yukos appeal ruling

The former majority shareholders of Yukos have said they are confident that awards requiring Russia to pay them US$57 billion will be upheld, after the Dutch Supreme Court today said the state’s allegations of fraud should be reviewed by a lower court.

05 November 2021

Dutch Supreme Court remands Yukos case for further ruling

UPDATED: The Dutch Supreme Court has partly upheld an appeal by Russia over a decision to reinstate Energy Charter Treaty awards worth US$57 billion in favour of the former majority shareholders of Yukos, remanding the case to a lower court for further consideration.

05 November 2021

Gazprom sees off another price review challenge

A Swedish court has rejected a Turkish energy company’s bid to set aside an award in another gas price review arbitration with a subsidiary of Gazprom.

01 November 2021

Gazprom and Eni settle Stockholm arbitration

Russia’s Gazprom Export and Italy’s Eni have agreed to revise the terms of their long-term supply contracts, settling disputes that had gone to arbitration in Stockholm.

29 October 2021

Russia challenges latest Yukos award

Russia has applied to set aside a multibillion-dollar award rendered in one of the second wave of Energy Charter Treaty cases relating to the collapse of Yukos.

11 October 2021

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