A court in Washington DC issued a stay order delaying the motion by three groups of shareholders against Russia over the alleged expropriation of the Yukos energy firm by two years
MOSCOW (Pakistan Point News / Sputnik - 21st November, 2020) A court in Washington DC issued a stay order delaying the motion by three groups of shareholders against Russia over the alleged expropriation of the Yukos energy firm by two years.
According to the text of the court's decision, Judge Beryl Howell suspended proceeding in the US while a larger case of the same nature is underway in the highest court in the Netherlands.
The stay order is effective through November 2022 or until the case in the Dutch Supreme Court is settled.
This effectively prolongs an identical stay order issued six years ago by the shareholder groups, Hulley Enterprises, Yukos Universal and Veteran Petroleum, who demand a remuneration of $50 million with collateral that Russia post up bonds worth billions. The court satisfied Russia's position to prolong the stay order.
