Baker Hughes to Appeal to the Court of the Yamal-Nenets Autonomous District Seizure of Assets Worth $50 million
The complaint was received as part of a dispute with Yamal LNG
LLC Baker Hughes Rus Infra is challenging the decision of the Arbitration Court of the Yamalo-Nenets Autonomous District. It was issued as part of the proceedings initiated by LLC Yamal LNG.
The Russian structure of the American Baker Hughes filed an appeal to the Yamal arbitration. The details of the application are not being disclosed at this time. However, information is posted in the file of arbitration cases that Baker Hughes Rus Infra is trying to challenge the decision of the court, issued in August. This document discussed the satisfaction of the claims of Yamal LNG related to the application of interim measures in respect of the defendant’s assets.
As Pravda UrFO previously reported, in August Yamal LNG demanded the arrest of funds, movable and immovable property of Baker Hughes Rus Infra LLC. Interim measures were imposed on assets in the amount equivalent to 50.7 million US dollars at the exchange rate of the Central Bank of the Russian Federation on the date of arrest and 47.3 million rubles.
The reason for going to court for the Yamal enterprise was the high probability of the counterparty refusing to voluntarily compensate for losses. Among Yamal LNG’s claims, the court documents contain information on compensation for termination of the contract in the amount of USD 31.6 million. Earlier, Pravda UrFO reported that the Russian company also intends to return the funds transferred to Baker Hughes as compensation for customs duties under the agreement in the amount of 47.3 million rubles.
