Yukos European Court of Human Rights – Latest News and Updates
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Millions of people all around the world have been following the Yukos European Court of Human Rights case. The outcome of the ground-breaking legal cases brought by Yukos against the Russian government could impact on politics, business and law on a global level.
This is one of the most high profile and involving cases to reach the European Court of Human Rights.
Case Background
This history of Yukos is an inspiring tale of business success. This company went from the brink of collapse to becoming one of the most successful oil producers in the world in under a decade. Just how then did the Yukos European Court of Human Rights case come about, that saw the company fighting for justice?
* In the early 1990’s Yukos was state-owned by the Russian government. The Soviet Union had recently fallen and the whole country was struggling to move forward financially.
* Yukos was just one of many state-owned companies failing under poor administration, lack of investment and out-dated technology. Yukos was sold off to private investors in a state of near bankruptcy.
* However Yukos had the potential for success. This was an oil company with a site at Yuganskneftegaz capable of producing over 1 million barrels of oil every day.
* Investors saw its potential and began pouring new skills, investment and technology into the company.
* In just a few years production was already increasing and the whole company had been revolutionised and brought up-to-date.
* Yukos became a pioneer in Russian big business and was all set to take its place as one of the leading oil producers in the world.
* However success ultimately meant failure for Yukos. The Russian government decided to seize the company back, by simply expropriating it.
Yukos European Court of Human Rights Case
Yukos struggled against the government’s attempt to expropriate the company. After losing the site at Yuganskneftegaz due to aggressive tactics against the company (including a sham bankruptcy) the company took their case to the world courts. This included cases in the USA and the Netherlands. This was then followed by the Yukos European Court of Human Rights case which, ultimately, is yet to be fully resolved.
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Author Resource:-
For all the latest Yukos European court of human rights information visit the website today. Find out more about yukos European court of human rights here.
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By :
Gareth Hoyle
Submitted
2011-11-04 04:03:29 |
Article From Article Mayhem
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