Yukos Investors Win Tribunal Award From Russia, Lawyers Say

Spanish investors in jailed former billionaire Mikhail Khodorkovsky’s Yukos Oil Co. won an arbitration award from Russia, which nationalized the company, the plaintiff’s lawyers said.

Covington & Burling LLP, which represented the Spanish investors, said in a statement late yesterday that the Stockholm Chamber of Commerce’s arbitration arm ruled that Russia used “illegitimate” tax bills to bankrupt and nationalize Yukos, which it valued at $60 billion.