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Claimant also now expressly disclaims which the assessment of Yukos’ taxes, which showcased so prominently in its prior submissions, constituted acts of expropriation.
6 billion in taxes, fascination, and fines. The timing on the audits and velocity with which the tax authorities quickly uncovered an alleged US$ 24.1 billion tax fraud are impressive help with the inference that the tax assessments - lawful or not beneath Russian regulation (they usually weren't) - ended up a pretext for eliminating Mr. Khodorkovsky although renationalizing all of Yukos’ oil and fuel property.
The conclusions on the Russian courts are barely stunning - Yukos couldn't are ruined with no acquiescence and complicity in the Russian courts. And in any function, a party may well not invoke its possess inside regulation to excuse itself from performing its obligations less than a treaty. (See Element 11 A, beneath.)
b. Conversely, the Tribunal notes its prior determination on jurisdiction which permitted the importing from the broader consent to arbitration clause in Posting 8 of the Denmark-Russia BIT.
(a) Claimant may perhaps submit new paperwork in rebuttal to The brand new paperwork handed out by Respondent, with its Closing Statement for the hearing; and
1 and five.two of the UK-Soviet BIT to seek payment for the injury to its financial commitment in Yukos due to the expropriation from the Russian Federation in the belongings of Yukos, in the amount of the proportional value of Those people belongings represented by its shareholding.
Поврежденный при обрушении моста ж/д путь начали менять в Вязьме
While Respondent now argues that Claimant was not a valuable operator, This can be irrelevant. The Saluka case (CLA-34) along with a modern jurisdiction conclusion taken by a tribunal examining A further situation involving Yukos have proven that helpful ownership is irrelevant. In the other Yukos case, Professor Gaillard summarised the Tribunal’s results: "The Tribunal also found which the treaty, by its conditions, relates to an investment owned nominally by a qualified Trader. It held which the Russian Federation's submission that simple lawful possession of shares will not qualify as an investment decision beneath post 1 (six)(b) from the ECT finds no assistance from the text on the treaty." (CLA-83) The Tribunal also discovered that the drafters from the ECT did not plan to limit possession to helpful possession.
seven million, or, in the alternative, equivalent to the worth that financial commitment might have experienced in the date of your award absent Respondent’s unlawful expropriation with the belongings of Yukos;
3.6. Bearing in mind the time accessible during the interval supplied for the Hearing during the Timetable, the Tribunal intends to establish equal most time periods each with the Claimant and to the Respondent which the Get-togethers shall have available.
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3.eight. Ought to the Parties be presenting a witness or professional not testifying in English and so necessitating interpretation, they are expected to supply the interpreter Except if agreed in any other case.
This is accurate irrespective of whether, and also to what extent, the tax enforcement measures themselves might have complied with Russian domestic regulation. Official compliance with domestic law will not be utilized to justify the destruction of A non-public enterprise and justification the uncompensated transfer of that enterprise’s belongings for the state.This sort of steps constitute an unlawful expropriation beneath Worldwide legislation, irrespective of how they could be viewed underneath domestic regulation, and are already so perceived by Global courts and commentators. :