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(1) Neither Contracting Party shall in its territory subject investments or returns of traders of the other Contracting Party to treatment less favourable than that which it accords to investments or returns of investors of any third Point out.
Question 3.seven 212. Concerning the Participation Agreements, what is the relevance of The big apple law since the governing law, of Russian legislation and of Global regulation, particularly the IPPA, for the issues to become made the decision because of the Tribunal from the current scenario?
On the other hand, the Get-togethers are inspired to concur on interpreters and make typical preparations In this particular regard. Need to more than one witness or skilled will need interpretation, to avoid the need of double time for successive interpretation, simultaneous interpretation shall be offered.
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e.t within an amount ample to "wipe out all the results in the illegal act and reestablish the situation which might, in all chance, have existed if that act had not been dedicated." Nearly anything considerably less would reward the Russian Federation for its unlawful steps.
• The Respondent’s steps major up to your YNG auction point in the same route. As an alternative to searching for to preserve the continuing capability to do small business and pay taxes from the Russian Federation’s biggest private company, the Russian authorities rather regularly exercised their discretion in this type of way as to be certain Yukos’ destruction. To that https://rosinvest.com conclusion, the Russian authorities (i) gave Yukos the minimum amount amount of time possible to pay tax assessments; (ii) attained an injunction that froze Yukos’ property for instance to impede Yukos’ capability to pay back All those assessments; (iii) seized all of Yukos’ shares in Yuganskneftegaz ("YNG"), Yukos’ principal manufacturing facility, to enforce the.
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Claimant’s rights and offsetting responsibilities in relation to the Yukos shares just before March 2007 Therefore didn't have - and will not have had — any economic worth. Indeed, Claimant might have had to pay for a person to move into its sneakers for As long as the Participation Agreements remained set up
four of its Selections in that Award by transferring the issue of expropriation to the deserves section of the arbitration, in which way can and does Respondent nevertheless raise objections on jurisdiction at the current time?
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three.three. Until if not agreed concerning the Events or ruled with the Tribunal, witnesses and authorities might be existing in the Listening to space during the testimony of other witnesses and industry experts.
50. The Respondent initial contends that Claimant wasn't deprived of the total or substantial value of its financial commitment as the YNG auction "happened extensive prior to Claimant acquired an financial desire during the Yukos shares, in March 2007, and long ahead of the UK-Soviet Little bit could have become relevant to Claimant plus the Yukos shares.
Given that submitting its Assertion of Assert, Claimant has uncovered that Rosneft owned at least 20 percent of BFG at some time of your 2004 auction, to make sure that BFG by itself was no less than a partly state-owned corporation at the time of that auction.
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