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Regarding more arguments on jurisdiction at this stage in the process, the Tribunal has taken Observe of The brand new relief sought by Respondent relating to jurisdiction, and from the get-togethers’ replies into the Tribunal’s Query three.

Ситуация с паводком в Самарской области стабилизируется к концу недели - МЧС

• "[T]he situations with the arrest and prosecution of primary Yukos executives advise that the desire in the state’s motion in these scenarios goes over and above the mere pursuit of criminal justice, and incorporates factors such as the weakening of the outspoken political opponent, the intimidation of other wealthy individuals along with the regaining of Charge of strategic financial assets." (Council of Europe Parliamentary Assembly, January 2005.)

Recognising that the advertising and reciprocal defense below Intercontinental settlement of such investments are going to be conducive to your stimulation of small business initiative and can contribute to the event of economic relations amongst the two States;

three. 2. The Hearing shall be held in Stockholm (afterwards agreed being in Paris) in a web page selected via the Events soon after consultation Together with the Tribunal The Parties shall make the mandatory logistical arrangements and reservations and shall share the respective charges. They shall get the necessary measures and inform the Tribunal as quickly as possible.

Konnov build that Yukos' tax assessments were not discriminatory, retroactive or abnormal, a conclusion supported by Respondent’s study in the Global tax methods of other States, which displays which the abusive tax practices used by Yukos would've been treated much more severely beneath the tax methods of various Member States in the Council of Europe and plenty of non-European States. Claimant’s empty declare the tax treatment of Yukos isn't going to meet international requirements is not really supported by the actual tax follow of other international locations, and Claimant, when it invokes Worldwide tax standards, has neither challenged the authorities from other nations around the world relied on by Respondent, nor cited any of its personal.

Respondent has, in almost any party, shown in its Assertion of Defense - and Claimant hasn't challenged Respondent’s exhibiting-that none of the occasions that happened immediately after March 27, 2007 triggered a considerable or total reduction in the value with the Yukos shares.

Весенние работы по обновлению дорожной разметки начались в Москве

304. Claimant will make no separate claim according to acts that occurred following Claimant acquired helpful ownership in 2007. In any function, no declare of expropriation may be dependent entirely on these types of functions, considering that by that date the Tax Assessments for each of Years 2000-2003 (and afterwards several years) were surely upheld because of the Russian courts, YNG experienced by now been marketed, Yukos had now been formally declared bankrupt, and its remaining belongings were being in the entire process of currently being liquidated. «221 R-I) Contentions in Respondent’s Surreply R-II 305. In its Surreply (R-II) Respondent argues that Claimant was neither the lawful nor was it the financial owner from the Yukos shares right before 2007. Respondent also rebuts Claimant’s arguments that Respondent’s reliance on customary Intercontinental legislation is irrelevant. Claimant not the legal operator 306. With regard to its declare that Claimant wasn't the lawful proprietor, Respondent argues that the regulation beneath which the Tribunal must Appraise Claimant’s assertion that it is the lawful owner from the Yukos s har es is Russian regulation. Beneath applicable Russian regulation, CSFB was the authorized operator in the Yukos shares. Below Russian regulation, especially the Federal Regulation "About the Securities Market" https://rosinvest.com (RM-841 and RM-845), only folks shown (in so-termed "depo-accounts") to the books and records of a accredited securities depository are lawfully recognised because the house owners from the appropriate shares, and no other human being has any legally recognised legal rights to be a shareholder in relation to the company, (¶¶l -7R-TU 307. CSFB was registered Using the depository as being the holder of your Yukos shares and so was at all appropriate occasions the sole human being with lawful possession of your shares and for that reason the one person entitled to lawful legal rights as being a shareholder in relation to the corporate to be a issue of Russian legislation. (¶¶R-II) 308. Beneath the Russian Joint Stock Corporations Regulation, and verified via the Supreme Arbitrazh Court (within a scenario cited in RM-851), CSFB, given that the legal owner of the shares, was the one individual entitled to acquire notices of shareholders’ conferences, go to shareholders’ meetings and also to vote the Yukos shares. CSFB can be the sole particular person entitled to get dividends together with other distributions from Yukos. Accordingly, Claimant’s allegation that it "alone experienced the power to vote the shares also to obtain any dividends or residual money upon liquidation" (¶¶149 C-II) is unsupported and Bogus.

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240. Even though urging the Tribunal to draw this allegedly "reasonable inference," Claimant also explained that it did not take into account it "needed" to put Mr. Khodorkovsky’s real letter while in the document, for explanations which can be now obvious. With the Listening to, Counsel for Respondent, hardly ever owning observed Mr. Khodorkovsky’s letter, wasn't ready to reply. Following the hearing, however, counsel for Respondent were being in a position to obtain a replica in the letter (in English) from several Sites. That text absolutely negates the "reasonable inference'' alleged by Claimant. It as an alternative demonstrates that the legitimate basis for the Ministry’s inquiry was the precise opposite of politically-enthusiastic retaliation. The reason is usually that, The truth is, Mr. Khodorkovsky’s letter contained an astounding mea culpa, lambasting fellow "liberals" and himself for possessing been dishonest, cynical, lawless (like through functions of bribery), frivolous, egocentric, and insensitive towards the passions of the region and its people today - and urging this record of wrongdoing be acknowledged "with a sense of disgrace." Much from criticizing President Putin, Mr. Khodorkovsky’s letter uncharacteristically urged support for him as "an institution that assures the nation’s territorial integrity and security The letter concluded, "To alter the place, we have to change ourselves" 241. The tax authorities evidently viewed these unprecedented admissions by Mr. Khodorkovsky as a achievable give of the olive branch and, on the equally acceptable assumption that Yukos’ administration would on this situation far too follow Mr. Khodorkovsky’s Management, wrote to Yukos inquiring, in result, irrespective of whether Mr. Khodorkovsky’s letter was a sign that Yukos was enthusiastic about settling the tax statements, which it did by requesting the business "to verify the existence or absence of non-solved dissimilarities" about taxes with the yr 2000 (which at that point was continue to the only tax year that were reassessed). Oddly in light-weight of the seemingly crystal clear import of Mr.

In interpreting that clause and importing Post 8 with the Denmark-Russia Little bit into the present dispute, the Tribunal appreciates that conflicting arguments are possible In this particular context: a. On just one hand, it may be argued that it is necessary to study that provision while in the context with the treaty of which it sorts an element. Post 8 in the Denmark-Russia BIT enables a claimant of one contracting celebration towards the treaty to assert for expropriation by the opposite contracting get together. However Article 11 states the treaty will not implement to taxation. So Post eight on the Denmark-Russia Little bit in its context won't utilize to promises situated in taxation. The Tribunal is certain to import Write-up eight in its context, i.e. issue to Posting eleven. Were being a Danish investor to make a assert underneath the Denmark-Russia BIT for an expropriation Through taxation, the therapy afforded to the Danish Trader under the Denmark-Russia BIT would imply which https://rosinvest.com the Trader was precluded from creating a assert.

Whilst the Russian Federation seeks to protect its taking of Yukos’ property as a correct training of its electricity to enforce its tax laws, the proof ahead of the Tribunal demonstrates the tax actions directed towards Yukos were being an unconvincing pretext for an illegal expropriation.

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