A public hearing in The Hague saw Albert Jan van den Berg argue Russia’s case why the US$50 billion Energy Charter Treaty awards in favour of former majority shareholders in the Yukos oil company should be set aside, while Marnix Leijten and Marc Ynzonides of De Brauw Blackstone Westbroek defended them.
Leijten and Ynzonides told the court that the case concerns the “largest expropriation in the history of modern Russia”, carried out partly “under the guise of taxation”. They reminded the court that Russia had participated in the arbitration “to the fullest extent” over 10 years, seizing every opportunity to present its case in an eight week hearing and thousands of pages of written submissions and evidence.
While Russia has shared its arguments why the awards should be set aside with GAR since its request was first filed, this is the first time the Yukos shareholders’ arguments in defence of the awards have become public. The De Brauw team also includes partner Albert Marsman and senior associate Matthias Kuscher.
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Alison Ross, Global Arbitration Review, Copyright © 2016 Law Business Research Ltd.
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