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Leonid Nevzlin Pledges to Continue $100Bln Yukos Battle

Published: January 15, 2014 (Issue # 1793)



  • Leonid Nevzlin has announced he will continue the Yukos battle without the help of his former partner Mikhail Khodorkovsky.
    Photo: Brennan Linsley / AP

Businessman Leonid Nevzlin said that he would continue a $100 billion legal battle with the Russian government over the assets of defunct oil firm Yukos, in contrast to his former business partner Mikhail Khodorkovskys recent promise not to participate in the litigation.

Nevzlin, who emigrated to Israel in 2003 after the Russian authorities initiated the case that resulted in Yukos dismemberment, said that a decision on Yukos shareholders case against the Kremlin the biggest commercial lawsuit in history could be made in mid-2014. The shareholders have claimed $100 billion in damages for what they called illegal expropriation of Yukos assets by the Kremlin.

Nevzlin, a former co-owner of the oil company, was speaking following a meeting in Israel with former Yukos CEO Khodorkovsky, who was pardoned in December after serving more than 10 years in jail on tax evasion and embezzlement charges. Upon release, Khodorkovsky was immediately transported abroad by the Russian authorities.

Political analysts speculated that President Vladimir Putin may have released Khodorkovsky to secure either his non-involvement or assistance in the legal battle, which could deal an enormous blow to the Kremlin and lead to Russian government assets abroad being seized.

Gibraltar-registered Group Menatep Limited, which used to control Yukos, intends to achieve victory in this case and get compensation from the Russian Federation no matter what, Nevzlin told Dozhd television on Jan. 11.

He said, however, that Khodorkovsky has nothing to do with the case, which is being heard at the Permanent Court of Arbitration in The Hague, and that they had largely ignored business matters during their meeting, talking instead about their children and the weather.

Yesterday I attempted to talk with Khodorkovsky about the revenues and expenditures of [Group Menatep Limited] and its shareholders but was sharply rebuffed. He is not interested in this, Nevzlin said.

He said he would continue to manage Khodorkovskys stake in Menatep.

Khodorkovsky has repeatedly said since his release that he would not return to business and would not fight for Yukos assets. Some analysts interpreted this as a condition set by Putin for his release.

Economist Andrei Illarionov, a former Putin aide, said in a LiveJournal post published on Jan. 9 that the president could have pardoned the former tycoon because he needed his help in reaching a settlement between Yukos shareholders and the Russian government.

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ALL ABOUT TOWN

Wednesday, Sept. 24


AmChams Human Resources Committee meets this morning to discuss Labor Market Trends in their office in the New St. Isaac Office Center on Ulitsa Yakubovicha. The meeting begins at 9 a.m.



Thursday, Sept. 25


Learn more about tax controls on prices at AmChams Taxation Committee Round Table Meeting this morning at 9 a.m. Vladimir I Golishevsky, Acting Head of the Transfer Pricing Department of the Federal Tax Service of Russia, will be in attendance to discuss amendments to the Russian Tax Code. Register in advance if you wish to attend by emailing all@spb.amcham.ru.


Today is the last day to check out Inventing Everyday Life. Part III: Street exhibition one of Manifestas parallel programs on at 36 Morisa Toreza Prospekt until 8 p.m.



Friday, Sept. 26


Feel yourself Spanish for a little bit at Spain Day, a celebration of all things Iberian this evening at the Derzhavin Mansion in the city center. Speak Spanish during the open classes, practice your footwork on the dance floor to the sounds of flamenco music or chow down on paella while learning more about the countrys culture.



Saturday, Sept. 27


Local KHL team SKA St. Petersburg welcomes Vityaz from the Moscow region this afternoon at 5 p.m. in a Western Conference showdown. Tickets are still available to the match and can be purchased on the teams website, at the arena or in their merchandise shop on Nevsky Prospekt.


Let Biblioteka restaurant on Nevsky Prospekt teach your children how to be proper gentlemen and ladies during Etiquette for Children, a class for children five to 11 years of age that promises to help them become the cream of society. The class starts at 5 p.m. and costs 600 rubles ($15.60). Call 322 2526 to reserve a spot for your child.



Sunday, Sept. 28


For something different, head to the African Pride Event being held by Nicks Walkabout Tours, who have also helped bring African tribal leaders for the celebration. Check Vkontakte for more information.



Monday, Sept. 29


Experience Baltic culture through the medium of drama during the Baltic House Theater Festival, which starts on Sept. 25 and continues through Oct. 13. Not only are some of the regions most famous dramatic works planned for production but the event acts as a creative laboratory for a future generation of dramatists. Check the events website for more details about the festival.



Tuesday, Sept. 30


Local neo-pagans invite all worshipers to the dedication of a new Heart Tree in Sosnovka Park, Gods Wood. 4 p.m.


The second MIFIC Expo begins today at Lenexpo, providing an interactive platform for industry experts and manufacturers. Accessories, surfaces and interior decoration materials are just some of the things that will be available for perusal at the expo, which runs through Oct. 2.



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