Dutch Supreme Court overturns $50B award against Russia in Yukos case

The Dutch Supreme Court overturned a previous ruling on Friday that ordered Russia to pay a $50 billion arbitration award to former shareholders of the Yukos company.

The court said it canceled a decision by an appeal court at the Hague.

It accepted one of Russia's objections to the appeal court’s decision and rejected two others.

The Court scrapped the award on grounds that the Russian government's objections that Yukos' former shareholders had committed irregularities in arbitral proceedings were not considered and adequately investigated by the Hague appeals court.

The court threw the case back to the Amsterdam Court of Appeal.