2024-06-17 17:15:48
Former majority shareholders of Yukos have offered 18 manufacturers of Russian vodka for a complete of 1.6 million euros ($1.71 million). This was introduced right now by the shareholder group GML (GML), quoted by Reuters and BTA.
Among the many auctioned manufacturers are Stolichnaya and Moskovskaya, added JML, which beforehand held a majority stake in Yukos by its subsidiaries.
Former shareholders Veteran Petroleum and JML subsidiaries Hulley Enterprises and Yukos Common first seized the manufacturers within the Benelux nations 4 years in the past. Russia fought the seizure in Dutch courts till the Dutch Supreme Court docket rejected the final remaining enchantment in March 2024.
Yukos filed for chapter in 2006 after oil tycoon Mikhail Khodorkovsky clashed with Russian President Vladimir Putin and the federal government started demanding billions of {dollars} in alleged again taxes, ultimately resulting in the state expropriating its belongings.
The shareholders have been awarded simply over $50 billion by an arbitration courtroom in The Hague in 2014 on the grounds that Russia had intentionally pushed Yukos out of business.
Since then, they’ve been making an attempt to say the prize – which has grown to almost $60 billion, with curiosity now at $2.5 million a day – within the UK, US and the Netherlands.
“The cash we raised right now nonetheless pales compared to the practically $60 billion Russia owes us, however all nice achievements begin with small steps,” JML Chief Govt Tim Osborne mentioned in a press release.