So many products and services from Russia have fallen into disgrace recently. Even Russian vodka may be banned. The International Court of Justice arrested 18 Russian alcohol brands as part of the Yukos case. Even such iconic vodka brands as Stolichnaya and Moskovskaya are caught up in Yukos award fight.
The legal battle ended in 2014. Back then, the Supreme Court of the Netherlands upheld the arbitral awards in the Yukos case, obliging Russia to pay $50 billion. The former shareholders were able to prove in court that the oil company was illegally expropriated by the Russian government in the early 2000s. The Kremlin has denied the accusations. Russia even tried to appeal the decision in the Supreme Court of the Netherlands. However, it is almost impossible to do so. Proceeds from the auction will be transferred to former Yukos shareholders. Trademarks may also be sold if Moscow refuses to comply with the awards. If not, the former shareholders will have no other option but to enforce the Awards by seizing the assets of the Russian Federation.
"This is a momentous decision, because it paves the way for the lawful enforcement of our Awards by seizing Russian state property not only in The Netherlands, but also in 168 other countries around the world under the New York Convention", GML's CEO Tim Osborne said.
Since 2003, SPI Group, controlled by Yuri Shefler, has been battling with Russia's state-owned Sojuzplodoimport over the ownership of the well-known Stolichnaya brand in courts around the world. Shefler owns the rights to many brands, including Stolichnaya and Moskovskaya.
