A Russian court declined to enforce an award of the International Court of Arbitration at the International Chamber of Commerce (ICC). The ICC awarded some $200 mln plus interest to Yukos Capital Sarl (Luxembourg) against Tomskneft (Russia), formerly a YUKOS subsidiary, now controlled by state-run Rosneft. In 2004 Yukos Capital granted a number of large loans to various YUKOS subsidiaries in Russia experiencing financial difficulties after the authorities’ attack on YUKOS. Later the subsidiaries were taken over by Rosneft, who refused to repay the loans. Although Yukos Capital was successful in arbitration, it has had difficulties collecting the money in Russia. In this case the court apparently agreed with the YUKOS prosecution that the money lent to Tomskneft was previously “stolen” by YUKOS from Tomskneft and other YUKOS subsidiaries.
http://www.kommersant.ru/doc.aspx?DocsID=1405518
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