In December 2005, Yukos Capital started arbitration proceedings with the International Court of Commercial Arbitration of the Moscow Chamber of Commerce under the arbitration clauses in the loan agreements, claiming repayment of the loans with interest.In four arbitral awards (one for each loan agreement) dated 19 September 2006, the arbitral tribunal awarded most of Yukos Capital’s claims. The exception occurred when the ICC sent a revised version of the Terms of Reference directly to Samaraneftegaz's corporate address on October 24, 2006. ¶ 51.) The letter was sent via registered mail against return receipt. 51.) Samaraneftegaz did not sign the revised Terms. 8, ¶ 19.) In its August 15, 2007 award, the tribunal ordered Samaraneftegaz to pay Yukos Capital the outstanding RUR 2,415,980,000.00 due under the Loans, contractual interest in the amount of RUR 664,821,971.00, interest at a rate of 9% on the award until payment, $ 435,000 USD for arbitration fees and costs, and $ 284,474.54 USD for Yukos Capital's legal costs and expenses. ¶ 96.) In July 2007, more than a year after the commencement of arbitration, Neft-Aktiv, Samaraneftegaz's sole shareholder, sued Samaraneftegaz and Yukos Capital in Russian court in Samara to invalidate the Loans. The court assumes familiarity with the procedural history and the relevant facts as set forth in the Court's previous order. On April 6, 2006, ZAO Yukos Exploration and Production ("Yukos EP"), on behalf of Samaraneftegaz, informed the ICC that it would not bear any of the costs of the arbitration because it disputed the validity of the arbitration provisions. ¶ 31.) At the time, Yukos EP was Samaraneftegaz's management company by virtue of a delegation of powers agreement. ¶ 6.) Yukos EP's letterhead contained a mailing address and fax number different than Samaraneftegaz's corporate address. (Yukos Capital 56.1 ¶ 38.) After the April 6, 2006 letter, with one notable exception discussed below, the ICC sent notices and a copy of the award to Yukos EP's fax number and mailing address, and stopped sending notices to Samaraneftegaz's corporate address. Recognition of the judgments of foreign courts, however, is not a matter of obligation, but comity.
1987) ................................................................ Factual background In 20, Yukos Capital, a Luxembourg finance company that was part of the Yukos group, granted four loans to Yuganskneftegaz, then a full subsidiary of Yukos Oil company.After Yuganskneftegaz was sold in a highly controversial auction to (eventually) Russian state oil company Rosneft, it defaulted on the loans.On 25 June 2010, the Dutch Supreme Court handed down an important decision, thereby terminating a large part of the Dutch Yukos litigation.The decision has major implications for the enforcement of foreign arbitral awards in the Netherlands.