SIAC hosted its final event of 2014, an evening talk by Mr Emmanuel Gaillard, a Member of the SIAC Court of Arbitration, and Ms Yas Banifatemi, on 11 December at Maxwell Chambers on the US$50 billion Yukos arbitral award.
Mr Gaillard and Ms Banifatemi, both partners at Shearman & Sterling LLP, act for the majority shareholders of the former Yukos Oil Company and on 18 July 2014, they secured a US$50 billion award for their clients in an arbitration brought against the Russian Federation. This is the largest award ever rendered in the history of arbitration. The claim related to the expropriation of the former shareholders' investment in the Yukos Oil Company, in violation of the Energy Charter Treaty.
The talk was attended by over 90 delegates, the majority being legal practitioners with a smaller percentage being in-house counsel.
SIAC would like to thank Shearman & Sterling for hosting this informative and interesting session.