Former Yukos shareholders managed to deliver Russia another strike in France
Trying to recover $ 50 billion from the Russian Federation (by the decision of the Hague Tribunal) the former Yukos shareholders managed to land the RF in hot water once again.
Following the seizures of diplomatic buildings in Paris, the former shareholders managed to receive another court decision resolving to arrest the payments of Arianespace and Eutelsat towards their Russian counterparts. Moreover, Yukos shareholders lay claim to seize the RF`s “property” at Air France.
According to the recent decision of the Court of Appeal of Paris Arianespace, Eutelsat and Air France turned out to be involved in the trial of former Yukos shareholders with the Russian Federation in France. On the 17th of December Russia`s request to suspend the decision of the Hague Tribunal was rejected, Therefore, GML that stands for the former Yukos majority shareholders, keeps on arresting Russia`s state-owned property.
The text of the decision states that Russia considers “arrests [of its assets], carried out in respect of Arianespace and Eutelsat, as well as the unscrupulous actions aimed at seizing the Russian property from Air France, to be unlawful”. However, the document does not give a list of the assets seized.
“According to the court decision GML managed to seize or freeze Russian assets of these three companies”, – confirmed Julien Fouret, Betto Seraglini Partner specializing in international arbitration.