The majority shareholders who once controlled Yukos Oil Co. and their lawyers at Shearman & Sterling are poised to announce Monday whether the Russian Federation must pay billions for seizing the oil giant more than a decade ago.
GML Ltd., the shareholders’ holding company, said Wednesday that it will hold a July 28 press conference in London to unveil the long-awaited decision from the Permanent Court of Arbitration in The Hague. GML and its lawyers have pegged damages at $114 billion, making the case the largest in investor-state arbitration history.
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