Yukos $50bn Arbitral Award Quashed

The ten year battle between the Russian Federation and former shareholders Yukos takes an unexpected turn.

On 20 April 2016 the Hague District Court quashed the largest ever international arbitration award – of $50bn against the Russian state. The story is far from over, as this decision will almost certainly be appealed, and the quashing of the award may not prevent the original award from being enforced in other countries. Nevertheless, the court's decision emphasises a fundamental feature of arbitration: it is a consensual process.

Join us for a panel discussion on the background to the award, its reversal by The District Court of the Hague and the ongoing wider ramifications.

Speakers: 

Our panel speakers are:

Claire Stockford

Specialising in International Disputes, Claire’s practice comprises both international arbitration and litigation.

In the field of international arbitration, Claire has considerable experience of commercial and investor-state arbitration in industries ranging from hospitality to energy.

Govert Coppens

Govert advises and represents sovereign States, international organisations and corporate clients on a wide range of contentious and non-contentious public international law and international dispute resolution issues, in particular the protection of foreign investments under international investment agreements. He is currently acting for both States and investors in ICSID and UNCITRAL proceedings.

Sergejs Dilevka

Sergejs is a member of Mena Chambers and specialises in international commercial, investment, energy law and international arbitration. He has recently been working on several Energy Charter Treaty cases and has acted as an arbitrator, assistant counsel and registrar in a number of international arbitrations relating to international commercial and investment disputes.

Ben Wells

Ben is a litigator experienced in multi-billion dollar litigation claims and representing major banks with regard to alleged LIBOR manipulation. Previously Ben worked for an international law firm in Moscow. He is fluent in Russian and is the founder of the Russian Speaking Legal Professionals’ Forum. Ben contributes to the legal press with recent publications in The Lawyer, International Energy Law Review and for the Russian Arbitration Association.

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