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"В городе Тюмени нет риска затопления микрорайонов", — отмечается в пресс-релизе.

BFG was a Unique purpose vehicle for Rosneft, the condition oil firm that experienced owned many of Yukos' assets prior to their privatization inside the nineties and that now owns them yet again.

Taking into consideration the Calculation of Hearing Time connected to this Order, the total optimum time accessible for the Events (such as their opening statements and shutting arguments, if any) shall be as follows:

Desiring to make favourable situations for larger expenditure by buyers of 1 Condition within the territory of the opposite Condition;

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222. As an Original issue, a distinction must be drawn involving Claimant’s ideal and Claimant’s power to market the Yukos shares, The shorter respond to to the 1st dilemma is that Claimant didn't - and knew that it didn't - have the proper to offer the Yukos shares though the Participation Agreements remained in place. Why else would Claimant have purportedly paid USS three.five million in March 2007 to terminate the Participation Agreements if Claimant by now had the appropriate to market the shares? 223. It really is in almost any celebration clear for a authorized make any difference the Participation Agreements conveyed a house fascination in rem from the Yukos shares to Elliott Global. Respondent’s demonstration that Ny law would treat the Participation Agreements as owning transferred a assets desire inside the Yukos shares to Elliott International stands unrebutted. Beneath the extensive line of conditions cited by Respondent, (at ¶twenty five R-II) the Participation Agreements effected a "legitimate" sale of your Yukos shares these that, in the event of Claimant’s insolvency, Elliott Worldwide - and never Claimant’s personal bankruptcy estate - would have been entitled to receive Yukos’ dividends also to exercise the legal rights of a shareholder, It follows for a matter of hornbook home legislation that Claimant, possessing sold the ownership in the Yukos shares to Elliott Global, did not have the correct to show all over and offer the same shares to another person. 224. On the hearing, Claimant for The 1st time proposed that a New York court wouldn't browse into your Participation Agreements a prohibition on Claimant’s appropriate to promote the Yukos shares. This argument is meritless. Inasmuch as the Participation Agreements currently conveyed the entirety with the economic interest in the Yukos shares to Elliott Global, there was no require to the Participation Agreements to supply that Claimant could not promote precisely the same shares a next time. Merely to state Claimant’s argument is usually to refute it. 225. Respondent clarified with the Listening to that a bona fide purchaser (for value) from Claimant might have obtained very good title into the Yukos shares, Although Claimant was not the lawful or economic owner of your shares. This probable end result doesn't, nonetheless, say just about anything about Claimant’s rights being an owner in the shares, but as a substitute answers to Ny regulation’s solicitude for that legal rights of an innocent purchaser and motivation to promote a liquid trading sector in securities, untrammeled by defects in an upstream seller’s title. This is clear from The truth that, underneath New York legislation, even a great faith purchaser for worth from the thief can purchase title.

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2. Respondent 265. Respondent promises that the Denmark-Russia BIT is excluded from implementing into the existing scenario as Short article 11(three) of that treaty presents: "The provisions of the Settlement shall not use to taxation.". Respondent asserts that hence all promises premised on Russian "taxation" really should be excluded. Claimant has built no make an effort to display, a lot less to quantify, that it was fully or substantially deprived of its expenditure on account of acts complained of, if any, other than taxation. On this basis as well, Claimant’s assert needs to be denied. (¶234 R-I) 266. In case the Tribunal considers this defence based on exclusion of taxation issues on account of Post 11(3) with the Denmark-Russia BIT ought to be labeled as One more jurisdictional objection, Respondent claims which the https://rosinvest.com Tribunal has authority and discretion underneath Article 22 of your 1999 Stockholm Arbitration Policies to allow Respondent to amend its pleading. Claimant wouldn't be prejudiced by this type of ruling because Claimant wasn't a helpful operator in the Yukos shares in the course of practically all of the interval by which Russian "taxation" is alleged to get violated the IPPA. (Footnote 432 R-I) 267.

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54. The Respondent also argues that Claimant has not revealed that it had been deprived of any "elementary possession rights " in its financial investment. Should the Respondent is right that "the appointment of the receiver to liquidate a company or other property constitutes an expropriation if it doesn't represent a reputable exercising on the Point out’s regulatory ability," then the Respondent’s appointment of a receiver on four August 2006 also deprived Claimant of essential ownership rights in its financial commitment on that date.

684. The Tribunal requires under consideration the events’ answers on the Tribunal’s Query 3.ten of PO-five and notably notes that the parties the two confer with and agree that Post five(1) of the IPPA necessitates that https://rosinvest.com for an expropriation less than Article five(1), "interest at a standard professional rate shall accrue till the day of payment" on the amount of "satisfactory and successful payment. The Tribunal is mindful that this ruling in Posting 5 refers to a lawful expropriation and that, inside the present scenario as seen earlier mentioned, the Tribunal considers the expropriation to generally be in breach of Write-up five and therefore illegal hence requiring the normal of damages in Intercontinental law also to the calculation of desire. On the other hand, the Tribunal notes that the get-togethers have both of those referred for the interest provision of Post 5(1) also with regards to a getting of illegal expropriation. 685. On the basis of your functions’ related submissions on this matter and in check out on the IPPA providing guidance for that level in Article 5, the Tribunal finds it satisfactory that interest at a standard professional level is usually because of on the sum awarded as damages. 686. Regarding the question what is actually the conventional commercial level, Claimant requests LIBOR + 4 p.c, compounded semi-per year, whilst Respondent considers the one particular-12 months LIBOR or EURIBOR level as applicable uncompounded. The Tribunal considers, that in look at of your time period "usual" in Post 5(one), the LIBOR charge ought to be relevant with no addition. 687. The dilemma of whether or not the desire ought to be calculated on a straightforward or compound foundation is 1 which the Tribunal has sought to answer by reviewing the conduct of Claimant and its top proprietor, Elliott Worldwide. 688. The Tribunal considers that in the case of a damages award the payment of curiosity is necessary as a way to ensure complete reparation to the act which caused injury, but that the manner of calculation should be set In order to accomplish a results of total reparation, The Tribunal considers that total reparation In such a case should keep in mind the nature of Claimant’s expense. 689. When latest financial commitment treaty arbitrations have awarded compound desire to claimants, the Tribunal notes this apply is by no means unanimous.

3.10 With no prejudice to any foreseeable future determination in the Tribunal, in the event that the Tribunal tends to make an award of compensation, what are the ultimate positions from the Parties relating to intent on such compensation?