RBC: Russia in the Yukos case is represented by Marks & Sokolov with offices in Philadelphia and Moscow

Western law firms refused to represent Russia in the Yukos case in foreign courts. The new representative of the Russian side is Marks & Sokolov, which has offices in Moscow and Philadelphia. This was reported RBC.

At the beginning of 2023, Andrey Kondakov, General Director of the MTSPZ (accompanies legal defense against foreign claims of the former Yukos structures), in a statement to the American court, announced the refusal of foreign firms to represent Russian interests. The Swiss Schellenberg Wittmer and the American Debevoise & Plimpton also refused to work with Russia. According to him, the search for an adequate replacement was complicated by sanctions against Russia.

According to Mr. Kondakov, the Russian side met with the managing directors of Marks & Sokolov law firm Bruce Marks and Sergey Sokolov in Istanbul in September 2022. Later, the Prosecutor General’s Office issued permission for Marks & Sokolov to represent Russian interests in foreign courts. As noted by RBC, the state procurement for the services of Marks & Sokolov could not be found.

Marks & Sokolov is registered in Russia under the name Marks and Sokolov LLC, its sole founder is Sergey Sokolov. According to information on the company’s website, it represented the interests of ALROSA, Gazprom, Severstal, Norilsk Nickel and Ukrainian businessman Igor Kolomoisky.

In 2003, criminal prosecution of Yukos owners began in Russia. In 2014, after nearly a decade of litigation, an independent arbitration tribunal unanimously concluded that the Yukos expropriation was illegal and politically motivated. The court also awarded the company’s former majority shareholders more than $50 billion in damages.

In February 2020, The Hague Court of Appeal upheld the decision. The Dutch Supreme Court upheld this decision in November 2021.

In 2013, Yukos Capital also initiated arbitration proceedings against the company seeking $13 billion in damages. The company claimed that it issued loans to Yukos that were not repaid due to the bankruptcy and liquidation of the company by decisions of the Russian authorities. Yukos enterprises Yuganskneftegaz and Samaraneftegaz borrowed $11.2 billion and $2.4 billion from Yukos Capital. respectively. The Russian authorities claimed that the funds belonged to the Yukos company and were used in illegal schemes to withdraw funds and evade taxes.

Olesya Pavlenko