July 28, 2014 / 8:31 AM / in 4 years

Yukos shareholders $50bln win is largest arbitration award ever-GML director

LONDON, July 28 (Reuters) - The $50 billion awarded by the Hague’s arbitration court against Russia is the largest arbitration award ever, said Tim Osborne, director of the GML group of shareholders which made the claim.

An arbitration court in the Netherlands on Monday ruled in favour of shareholders in defunct Russian oil giant Yukos, ordering Moscow to pay roughly $50 billion in damages.

“I am delighted to confirm that those final awards, which were unanimous, are very favourable to the claimants,” Osborne told a news conference.

Reporting by Jack Stubbs, writing by Megan Davies, editing by Elizabeth Piper

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