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«    March 2018    »

Ex-shareholders of Yukos not to push for seizure of Russian assets in Germany

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Ex-shareholders of Yukos not to push for seizure of Russian assets in Germany

Former shareholders of OJSC Yukos Oil Company have withdrawn an action, filed to the German court, for seizure of Russian assets in the country with the purpose to ensure $50 bln repayment, Head of the International Legal Protection Center, Andrey Kondakov, told reporters on Wednesday.

“Our lawyers in Germany announced the official withdrawal of the Yukos lawsuit against Russia in this country”, said Kondakov, who is representing Russia before the court. He reminded that previously the complainants applied for the court to start enforcement proceedings regarding Russian assets in Germany.

Andrey Kondakov pointed out that the court session was scheduled for the 29th of September 2016. However, when the former Yukos shareholders realized futility and a probable loss of the case, they made a decision not to bring it to trial.

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