French Court Rules in Favor of Rossiya Segodnya in Asset Freeze Case

The High Court of Paris on Friday acknowledged illegal freezing of Rossiya Segodnya International Information Agency bank accounts in France on the initiative of the former shareholders of the now defunct Yukos oil company.

PARIS (Sputnik) – In mid-June 2015, Rossiya Segodnya's French office bank accounts were frozen in response to the July 2014 $50-billion award to former Yukos shareholders by the Permanent Court of Arbitration in the Hague.

"Judge in cases of enforcement proceedings ruled to lift the arrest of the Rossiya Segodnya and RIA Novosti accounts," the text of the ruling obtained by RIA Novosti reads.

The plaintiff in the Yucos case, Cyprus-registered Hulley Enterprises Limited, was denied in compensation of losses and obliged to repay legal costs. The representatives of the offshore pledged to appeal the decision.