The Supreme Court of the Netherlands has rejected an appeal by Russia against the confiscation of Stolichnaya and Moskovskaya vodka brands for the Benelux market by the former shareholders of the now defunct oil company Yukos. The former shareholders said they can now sell the Benelux rights to a total of 18 vodka names in order to receive at least part of the $50 billion awarded in an arbitration award in 2014 as compensation Russia must pay. The Supreme Court ruling on the trade names follows a lower court ruling last month rejecting an appeal by Russia against the arbitration award for damages, which Russia has refused to pay anyway. Oil company Yukos collapsed in 2006 after oil tycoon Mikhail Khodorkovsky fell out with Russian President Vladimir Putin and the Russian government began demanding billions of dollars from alleged defaulters […]
Source: News Beast
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