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18 Jan 2023

Stephenson Harwood involved in Top 20 case for 2023

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Law firm Stephenson Harwood LLP has been recognised for its work, advising the former majority shareholders of Yukos Oil Company, in The Lawyer's 'Top 20 cases for 2023'.

In its reporting, The Lawyer notes: "Not only is the case extraordinary because of its value and geopolitical significance, but because it will address increasingly prominent questions about state immunity and the enforcement of international law."

Partner Ros Prince is leading the team representing the former majority shareholders of Yukos Oil Company, in their long-running, high profile +US$50 billion arbitral award enforcement proceedings against the Russian Federation in Hulley Enterprises, Yukos Universal and Veteran Petroleum v the Russian Federation.

The case has been stayed for a number of years, while concurrent proceedings were before the Dutch Courts. Following a judgment from the Dutch Supreme Court, the team has now successfully applied to the English Court to lift the stay of proceedings in England, so that the English Court can proceed to determine Russia's jurisdiction challenge on the basis of state immunity, which is set to be heard this year.

The full write up of the case is available here [£].

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