Introduction

What does it mean for the presentation and evaluation of damages evidence when an arbitral tribunal orders the losing respondent to pay the astonishing amount of more than US$ billion? On July 18, 2014 the arbitral tribunal in three parallel Yukos investment treaty arbitrations brought by former shareholders of OAO Yukos Oil Company ("Yukos") against the Russia Federation (Hulley Enterprises Limited v. The Russian Federation Yukos Universal Limited v. The Russian Federation and Veteran Petroleum Limited v. The Russian Federation) issued their Final Awards granting compensation ...