The Swedish Yukos Saga: RosInvest’s Pyrrhic Victory Over Russia and the Fortunate Correction of Previous Swedish Case Law Under Which Swedish Courts Lacked Jurisdiction Over Challenges Against Awards in the Absence of Any Connection to Sweden

IBA Arbitration Newsletter, 80-83, 2011

4 Pages Posted: 2 Jun 2012

See all articles by Dan Engstrom

Dan Engstrom

Stockholm Arbitration & Litigation Center (SALC) Advokatbyrå

Cornel Marian

Date Written: September 2011

Abstract

The Yukos shareholders scored the first – albeit pyrrhic – victory against the Russian Federation when an SCC arbitral tribunal ordered Russia to pay US$3.5m for an unlawful expropriation pursuant to the UK-Soviet BIT. RosInvest’s path to recovery has been painful; the challenge to the arbitral tribunal’s award on jurisdiction alone reached the Swedish Supreme Court, and meanwhile the arbitral tribunal issued its final award, against which a challenge is currently pending. The immediate result of the extensive litigation has been the correction of unfavourable case law at the appellate level so that Swedish courts are determined to have jurisdiction over challenges against jurisdictional awards rendered by arbitral tribunals seated in Sweden, irrespective of whether or not the dispute has a connection (other than the seat) to Sweden.

Keywords: Yukos, RosInvest

Suggested Citation

Engstrom, Dan and Marian, Cornel, The Swedish Yukos Saga: RosInvest’s Pyrrhic Victory Over Russia and the Fortunate Correction of Previous Swedish Case Law Under Which Swedish Courts Lacked Jurisdiction Over Challenges Against Awards in the Absence of Any Connection to Sweden (September 2011). IBA Arbitration Newsletter, 80-83, 2011. Available at SSRN: https://ssrn.com/abstract=2072015

Dan Engstrom

Stockholm Arbitration & Litigation Center (SALC) Advokatbyrå ( email )

Biblioteksgatan 3
Stockholm, 111 46
Sweden

No contact information is available for Cornel Marian

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