Dutch Court Ruling in Yukos v Rosneft Case Due by August 27

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An Amsterdam district court ruling in the Yukos International UK BV USD 333 million case against Rosneft is expected by August 27, RIA Novosti reported Friday citing the Russian company’s statement.

Yukos International filed a lawsuit against Rosneft and other unrelated defendants with the Court of Amsterdam District. The plaintiff demanded compensation of up to $333 mln plus interest for the period from February 7, 2011, plus expenses.

The company claims that it incurred losses due to the freezing of its bank account as a result of a 2008 court ruling regarding Yukos’s bankruptcy and liquidation.

The first court hearing in the case was held on June 27, 2012. Rosneft filed an exception to the lawsuit claiming that the court ruling to freeze the account was justified. The company also claims that Yukos International did not incur any losses as it deposited its funds in an interest-bearing account it selected.

Yukos International filed a statement in response on February 20, 2013. Rosneft did the same on May 15. The hearing on the merits took place on January 9, 2014. At the hearing, Yukos International was allowed to make changes to its claim. On February 26, Rosneft presented a reply to the new claim.

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