No Telling If Dutch Court Will Stay $50B Awards, DC Court Told

Law360 (October 1, 2020, 5:05 PM EDT) -- Former Yukos Oil Co. shareholders have urged a D.C. federal court to lift a stay on enforcement of $50 billion in arbitral awards, saying there's no indication that the Dutch Supreme Court will grant Russia's separate stay request as the Kremlin seeks to overturn the awards there.

Enforcement proceedings have been pending for nearly six years in D.C. federal court, following a dispute over Russia's dismantling of Yukos, once Russia's largest oil company. The awards, issued in 2014 in The Hague, are believed to be the largest ever in investment arbitration.

The former shareholders — Hulley Enterprises, Veteran Petroleum Ltd. and...

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