Dutch Court Overturns $50 Billion Yukos Ruling on Jurisdiction

April 20, 2016 8:12 AM

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Russia succeeded in its battle to overturn a $50 billion arbitration ruling, the biggest ever, after a Dutch court ruled that the panel of judges never should have reviewed the matter.

A district court in The Hague ruled that the tribunal misinterpreted a treaty that Russia signed but never ratified and wasn’t qualified to issue the award to the former owners of Yukos Oil Co., according to a copy of the judgment.

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