Ex-Yukos Shareholders Compensation Claim From Rosneft Legitimate - Court

© Sputnik / Vasily Prokopenko / Go to the mediabankFormer head of YUKOS oil company Mikhail Khodorkovsky
Former head of YUKOS oil company Mikhail Khodorkovsky - Sputnik International
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Yukos International, a company affiliated with the former Yukos shareholders, is seeking $333 million in damages, plus costs and interest since 2011 from Rosneft.

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BRUSSELS/MOSCOW (Sputnik) — The district court in Amsterdam on Wednesday ruled that the compensation claim by former shareholders of the now-defunct Yukos, once Russia’s biggest oil company, from Russian state-owned energy company Rosneft is legitimate.

The judge ruled that the amount of compensation should be considered separately during a damage assessment procedure.

Yukos International, a company affiliated with the former Yukos shareholders, is seeking $333 million in damages, plus costs and interest since February 7, 2011 from Rosneft.

Yukos International claims it was damaged as the court in Amsterdam ordered its bank account to be seized in 2008, which was linked to the bankruptcy of its parent company Yukos and subsequent liquidation.

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The first legal hearing took place in June 2012. Rosneft filed for the suit to be withdrawn in the fall, saying the decision to freeze its assets was done correctly and denied that Yukos International had suffered any losses.

Yukos was declared bankrupt by a Moscow court of arbitration back in 2006. The company's managers claimed the Russian government had illegally forced the energy company out of business, which allowed Rosneft to snap up its assets and become the country’s largest oil producer.

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