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Ruling in Yukos shareholders' $100-bln suit against Russia expected Monday
July 23, 2014 / 11:33 AM / 3 years ago

Ruling in Yukos shareholders' $100-bln suit against Russia expected Monday

MOSCOW, July 23 (Reuters) - A group of shareholders in Yukos expect a ruling on Monday in a $100-billion claim against Moscow for expropriating the defunct Russian oil company that was controlled by Mikhail Khodorkovsky, once Russia’s richest man, the GML shareholder group fighting the action said.

Khodorkovsky, who is not fighting the action, was arrested at gunpoint in 2003 and convicted of theft and tax evasion in 2005. His company, once worth $40 billion, was broken up and nationalised, with most assets handed to Rosneft, a company run by a former aide to President Vladimir Putin.

The Russian leader pardoned Khodorkovsky in December after the former tycoon spent 10 years in jail. Khodorkovsky is no longer a shareholder in Yukos.

The case is being held in the Permanent Court of Arbitration in The Hague.

Reporting by Megan Davies in Moscow, Editing by Timothy Heritage

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