The Yukos case : former shareholders lose their legal battle in France but continue the war
On 23 November 2017, another hearing was held before the Paris Court of Appeals in the famous Yukos case. The counsels for the Russian Federation and the former Yukos majority shareholders discussed the question of the apportionment of legal costs incurred in the scope of the appeal proceedings against the French enforcement orders of the arbitral awards rendered in July 2014 against Russia. This hearing, which seems to be the last one, is a logical consequence of the announcement made on 10 October 2017 by Tim Osborne, the chief executive of the holding company Group Menatep Limited (GML) representing the interests of the former shareholders, to definitively abandon the enforcement in France of the arbitral awards that granted them US$ 50 billion in damages. This unexpected ending is the occasion to look back at the multiple twists of this extraordinary case.