Swedish Court Delivers Blow To Spanish Yukos Shareholders
Law360, New York (January 25, 2016, 10:17 PM EST) -- A Swedish appeals court has ruled that a Stockholm Chamber of Commerce tribunal lacked the authority to evaluate expropriation claims brought against Russia by a group of Spanish investment companies that related to the demise of Yukos Oil Co., according to documents released Monday.
The Svea Court of Appeal panel determined Jan. 18 that a bilateral investment treaty between Spain and the Soviet Union didn't give the tribunal jurisdiction over the claims of the Spanish companies, who are former Yukos shareholders. The decision comes as Russia is asking a D.C. federal court to set aside $50 billion in arbitration awards issued...
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