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Award in respect of pecuniary damage sustained by company in liquidation to be paid to its shareholders
Facts - The case concerned tax and enforcement proceedings brought in 2004 against the Russian oil company, OAO Neftyanaya Kompaniya Yukos (Yukos), which eventually led to its liquidation in 2007.
(i) Violation of Article 6 - The Court could not speculate on what the outcome of the tax proceedings in 2000 might have been had the violation of the Convention not occurred. There was thus insufficient proof of a causal link between the violation found and the pecuniary damage allegedly sustained by Yukos.
(ii) Violations of Article 1 of Protocol No. 1 - Yukos had paid the penalties in the tax assessment for the years 2000 and 2001 which had been found unlawful by the Court, as well as a 7% enforcement fee on these penalties. The Court assessed the amount of pecuniary damage to Yukos resulting from those payments at EUR 1,299,324,198.
(iii) Distribution of the award - Since Yukos had ceased to exist following its liquidation, the award was to be paid to its shareholders and their legal successors and heirs, as the case might be, in proportion to their nominal participation in the company�s stock.
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