On Tuesday 28 April, in a ground-breaking ruling, the Amsterdam Court of Appeal granted the Luxembourg company Yukos Capital permission to enforce four Russian arbitral decisions in the Netherlands. The arbitral decisions were passed in September 2006 against the Russian company Yuganskneftegaz that later merged with the Russian state-owned company Rosneft.
The Russian court quashed the arbitral decisions at the request of Rosneft. The Dutch court has now ruled that the fact that the Russian court quashed the arbitral decisions does not hinder enforcement of the decisions in the Netherlands. According to the Court of Appeal, it must be assumed that in cases concerning the Yukos concern the Russian judicature is led by the interests of the Russian state. As a consequence of this, the Russian civil court was not impartial and independent in its decision to quash the arbitral decisions. For this reason, the reversal of those decisions by the Russian court could not be acknowledged in the Netherlands.
The ruling is in line with earlier decisions by the Amsterdam Court of Appeal in which it was judged that the Russian decision to declare Yukos bankrupt in Russia was in conflict with Dutch public order.
Yukos Capital is represented in the Netherlands by Robert van Galen, Gerard Meijer and Barbara Rumora-Scheltema.