Charles Adams Weighs in on Yukos Arbitration Proceedings

Law360 | January.01.2018

Charles Adams, the leader of Orrick’s International Arbitration & Dispute resolution team, recently spoke with Law360 regarding international arbitration cases to watch in 2018. Charles gave his thoughts on the continuation of proceedings to revive the record-breaking $50 billion in awards issued to former shareholders of Yukos Oil Co. in 2014. The awards were overturned by a Dutch court in 2016, but the former shareholders have continued efforts to have the awards enforced.

"[The Yukos case] is an interesting example of a historic award which thus far has proven not to be worth the paper it's written on,” Charles noted, adding, "Ultimately the end product of international arbitration has to be an award which is converted into money, and any obstacle or impediment to that process is noteworthy because it diminishes to one degree or another the appeal of the process itself."