Clients Awarded Over $60M from Russia Over Crimea Investment Losses
20 March 2022
Clients of Aksio Partners received a final PCA award ordering Russia to pay over $60M plus interest for the expropriation of their Crimean investments.
Clients of Aksio Partners (Lugzor & others) have received final award of the Permanent Court of Arbitration (Netherlands) in their arbitration against Russian Federation for the loss of their investment in Crimea.
The Tribunal decided that the Russian Federation breached the Agreement Between the Russian Federation and Ukraine on the Encouragement and Mutual Protection of Investments, dated 27 November 1998, in respect of the Claimants' investments, and ordered for the Russian Federation to compensation to the Claimants for the expropriation of their investments in the Crimea in the total amount of over $60M plus interests accrued.
Fieldfisher LLP has been acting as the lead legal advisor to the Clients.
Aksio Partners advises investors, who made investments into Crimea, in their claims against Russian Federation.
The clients of Aksio Partners succeeded to receive five Preliminary Awards finding jurisdiction, five awards finding the RF liable for unlawful expropriation of properties in Crimea, and four Final Awards awarding total compensation in excess of US$ 280 million. We also have experience of successful defence of the Awards by our clients in Swiss and Dutch Courts.