find it inadmissible. 44 This is indeed the position which was adopted by several tribunals, 45 including the Plama tribunal 46 as well as in the three related Yukoscases. In the later cases, the Tribunal applying the ECT (which does not contain a legality requirement) decided that allegations
Rechtsstaat 1 65-97 Cordero Moss , Giuditta , Between Private and Public Inter- national Law: Exorbitant Jurisdiction as Illustrated by the YukosCase 1 1-17 Eriksen , Svein , Institution Building in Central and East- ern Europe: Foreign Influences and Domestic Responses 3 333-369 Leego , Merike , see Mets
relatively informal. There is not, as yet, a developed body of international principles to avoid double recovery where claims are litigated before a multiplicity of fora.
As far as the ECtHR is concerned, the Yukoscase was a difficult one. The case raises issues of great factual and legal complexity. It
-called silovik i, and has led to international sanctions that have had a substantial negative effect on the Russian economy since 2014. At the regional level, the yukoscase in 2003 has incentivized low- and medium-level members of the security services to start their own expropriations, leading to a wave of
Yukos-case decision of 2014 in which the ECrtHR decided that the shareholders of this oil-firm should be compensated for more than € 1.8 billion.
However, the course of events was closely linked to the evolving conviction that Russian values were radically different from Western European liberal
economic affairs. In the most outlandish case of the reversal of ownership, the Yukoscase, Michael Khodork- ovskii lost ownership of this company. Neoliberal reformers had praised Khodorkovskii for having turned the company around and saw this as a justification of their ‘it does not matter how you
asset, and then the bankruptcy of one of the world’s largest oil and gas companies. The issues traversed in the Final Awards in the Yukoscases are worthy of lengthy consideration. But the feature of this case that forms the focus of this article is the different international proceedings that were
, Hulley Enterprises Ltd. (Cyprus) v. Russian Federation and Veteran Petroleum Trust (Cyprus) v. Russian Federation, hereinafter the “YukosCase”) were heard in parallel with the full participation of the parties at all relevant stages of the proceedings.
50) Ulrich Klaus, The Gate to Arbitration