Dutch Ruling Hands Yukos Creditor Moravel $848M

Law360, New York (March 27, 2008, 12:00 AM EDT) -- A Dutch court's ruling has allowed Yukos International UK BV to pay GML Ltd. subsidiary and Yukos Oil Co. creditor Moravel Investments Ltd. almost $848 million, upholding a September 2005 decision by a London Court of International Arbitration tribunal.

Yukos International UK said the Dutch court allowed it to satisfy Moravel's “legitimate creditor claim” involving the unpaid balance on a $1.6 billion loan made to Yukos Oil Co. in 2003. Moravel went after Yukos Oil Co.'s international assets, which were held under Dutch jurisdiction, according to...
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