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(1) Neither Contracting Bash shall in its territory matter investments or returns of buyers of another Contracting Party to procedure significantly less favourable than that which it accords to investments or returns of buyers of any third Condition.
In reaction, Claimant has fundamentally changed its story. As set out in Claimant’s Reply, Claimant now asserts that it was the authorized (or nominal) proprietor of the Yukos shares constantly till they were being de-outlined in late 2007, Which Yukos’ assets (rather than Claimant’s interest in the Yukos shares) have been expropriated from the YNG auction and in subsequent auctions held, commencing in March 2007, in implementation of your ' bankruptcy court docket’s purchase that Yukos be liquidated.
The conclusions on the Russian courts are rarely shocking - Yukos could not are destroyed without the acquiescence and complicity in the Russian courts. And in almost any celebration, a party might not invoke its possess interior law to excuse itself from performing its obligations underneath a treaty. (See Component eleven A, beneath.)
3.8. Ought to the Events be presenting a witness or qualified not testifying in English and so demanding interpretation, They can be expected to supply the interpreter Except if agreed usually.
three. two. The Hearing shall be held in Stockholm (later agreed to get in Paris) in a web-site selected via the Functions just after session Together with the Tribunal The Functions shall make the necessary logistical arrangements and reservations and shall share the respective costs. They shall take the mandatory measures and inform the Tribunal right away.
Claimant (¶ 132 CPHB-I) 201. Claimant refers the Tribunal to its remedy to this query as expressed in closing arguments, and submits the next added observations: (a) : Shares of Russian joint stock businesses are recorded within the register of shareholders maintained possibly by the business by itself or by an independent "Registrar.
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210. As set forth at ¶¶ 239-241 of R-file and ¶¶ 107 and 108 of R-II and reviewed in Respondent’s oral pleadings, Write-up five(2) from the IPPA permits a shareholder, together with a minority shareholder, to assert oblique statements depending on an alleged de jure or de facto expropriation of the property of a locally integrated enterprise that deprives the shareholder of use and benefit of its shares, 211. Claimant hence has the load of establishing that (i) Respondent expropriated all or some of Yukos’ belongings and thus adopted a "measure having result akin to nationalisation or expropriation" in the Yukos shares https://rosinvest.com and (ii) the perform that triggered the oblique expropriation from the Yukos shares transpired after Claimant designed an expenditure.
three.7. A transcript shall be made of the Hearing and despatched on the Parties along with the Arbitrators. The Get-togethers, who shall share the respective expenses, shall endeavor to agree on and make the necessary preparations In this particular regard and shall https://rosinvest.com inform the Tribunal accordingly prior to the time set to the Pre-Listening https://rosinvest.com to Conference.
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