GML looks West to recoup Yukos asset losses

Tim Osborne, the director of financial holding company GML, which owns a 51% share in the Russian oil company Yukos, has indicated that he may pursue Western companies involved in the Yukos bankruptcy auctions that took place in March and April 2007, in order to gain compensation for the Yukos assets that he says were illegally seized by the Kremlin.

Osborne has initiated the largest arbitration case in history against the Russian government, under the terms of the Energy Charter Treaty (ECT)

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