Leading independent offshore law firm, Cains, recently assisted in respect of US $50 billion award against the Russian Federation.

On Friday 18th February 2020 The Hague Court of Appeal handed down a ruling which in effect restored arbitral awards requiring the Russian Federation to pay over US $50 billion in compensation.

David Doyle CBE, a Senior Legal Adviser within the firm’s top tier Litigation team, provided expert evidence to The Hague Court of Appeal on behalf of Hulley Enterprises Limited, Yukos Universal Limited and Veteran Petroleum Limited (“Hulley et al”) on Manx law in respect of piercing the corporate veil. 

The expert report was provided in the proceedings between Hulley et al v The Russian Federation in relation to Hulley et al’s successful appeal to reinstate their arbitral awards of over US $50 billion against the Russian Federation.

David Doyle, commented: “It was a real pleasure and privilege to have been of some assistance to The Hague Court of Appeal in respect of this significant matter.”