Yukos v Russia case heard in ECHR
Piers Gardner of Monckton Chambers represented Yukos Oil Company in the hearing on the merits of its application to the European Court of Human Rights held in Strasbourg on 4 March 2010. The Application concerns the lawfulness under the European Convention on Human Rights of the additional taxation of Yukos in Russia and the enforcement of the resulting liabilities of over €19.6Bn and of the freezing of all Yukos’ assets, leading to its bankruptcy. The enforcement involved the seizure and auction sale of Yuganskneftegaz, Yukos’ largest production subsidiary, which produced as much oil annually as Libya. Yukos’ claim to just satisfaction exceeds $98 Bn, the largest claim by value before any court or tribunal.
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