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The Yukos Annulment: Answered And Unanswered Questions, George A. Bermann
The Yukos Annulment: Answered And Unanswered Questions, George A. Bermann
Faculty Scholarship
On April 20, 2016, a Dutch court issued a major judgment annulling awards rendered in a dispute between the Russian Federation and three majority shareholders of the former giant Russian oil producer, OAO Yukos Oil Company (“Yukos”). The annulment by a national court of any investor-State award is always of great moment, but it was particularly so in the case of an award in excess of $50 billion. Discussion of the judgment has understandably occupied much of the international arbitration blogosphere.
After setting out the basic facts of the case, this piece briefly describes the position that the Tribunal had …