Arbitration Without Privity and Russian Oil: the Yukos Case Before the Houston Court
Article from: OGEL 4 (2006), in Russian Disputes
Notwithstanding the judgment of February 24, 2005, one cannot say that the Yukos affair will not have further developments. In fact, counsel for Yukos even sought clarification of Judge Clark's decision by filing an appeal petition. Furthermore, Yukos's major shareholder, Group Menatep, requested arbitration, according to article 26 of the ECT and the rules of UNCITRAL, in the amount of $28 billion! These proceedings will follow the others currently still pending in front of the Russian courts, against both the Ministry of Finance and all companies involved in the YNG auction. In ...