DECISION OF THE AMSTERDAM COURT OF APPEAL RENDERED ON APRIL 28 2009 IN CASE NO. 200.005.269/01 “YUKOS CAPITAL S.A.R.L. vs. OAO ROSNEFT”
Observations by Eric A. Schwartz
Subject-matters: Application seeking the recognition and enforcement of arbitral awards made in Moscow under the rules of the International Court of Commercial Arbitration at the Chamber of Trade and Industry the Russian Federation—Awards subsequently annulled by Russian Courts—Whether awards can nevertheless be recognized and enforced in the Netherlands.
Findings: A Dutch court is not required by the New York Convention to refuse to recognize and enforce foreign arbitral awards that have been annulled by the courts of the seat of arbitration. To be given extraterritorial effect, a foreign annulment judgment must meet a number of minimal requirements including due process of law, which requires that the court from which the judgment emanates has acted in an impartial and independent manner. This was not the case here, and since the defendant has not established any ground justifying the dismissal of the application, the awards are recognized and leave to enforce them is granted. This decision has been appealed before the Supreme Court of the Netherlands.
Appellant: Yukos Capital S.A.R.L.
Defendant: OAO Rosneft
Place of court proceedings: Amsterdam, The Netherlands