Company related to Yukos compensates $1.7 million legal costs to Russia
MOSCOW, September 29 (RAPSI) – Financial Performance Holdings B.V. (FPH), a company affiliated with Yukos, has paid Russia $1.7 million as compensation for legal costs related to a lawsuit against the country over alleged violation of the Energy Charter, press-release of the International Centre for Legal Aid reads on Friday.
The company filed a lawsuit in 2014 as one of the so-called “second wave cases” against Russia filed by companies related to Yukos and sought to recover $1.3 billion.
According to the International Centre, the lawsuit was recalled after the District Court of The Hague overturned a ruling of the Permanent Court of Arbitration in The Hague awarding former Yukos shareholders $50 billion in dispute with Russia. The Court of Arbitration recognized the recall and ordered FPH to compensate Russia with legal costs but the company was not willing to pay, the press-release reads.
Later, Russia filed a lawsuit with the High Court of Justice seeking to enforce recovery of legal costs. The company repaid those in full before the court ruled in the case.