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Event
June 18, 2015

‘Taking Russia to International Courts: Lessons from the YUKOS Case’

by
Henry Jackson Society

Bruce Misamore

SPEAKER: Bruce Misamore

Chief Financial Officer of YUKOS Oil Company, 2001-2005

Leader of the legal campaign against the Russian government seeking compensation for YUKOS shareholders

TIME: 1 – 2pm, Thursday 18th June 2015

VENUE: Committee Room 4A, House of Lords, London SW1A 0AA

To attend please RSVP to: researchassistant3@henryjacksonsociety.org     

#HJSEvents

Over the past 15 years, few political acts have been quite as brazen as the Russian government’s dismemberment of Yukos. In a few cynical moves, just over a decade ago, Putin destroyed a political opponent, Mikhail Khodorkovsky, and seized control of his business, Russia’s then-largest oil company. An action ostensibly aimed at reining in an insatiable oligarch was, in reality, used to bolster the Kremlin’s own power and patronage.

Since the Kremlin’s dismemberment of Yukos, Bruce Misamore, the company’s former chief financial officer, has led a small band of other former Yukos executives in trying to recover assets for the company’s 55,000 shareholders, many of them Russian citizens, and the company’s employee pension fund. On 31 July 2014, in the midst of the Ukraine crisis, the European Court of Human Rights awarded the shareholders US$2,5 billion. This ruling was the largest compensation award made by this court as it was 21 times larger than any previous award. The money was due to be paid in January 2015 but, after a minor delay, the Council of Europe set a deadline, for Russia to draw up a payment plan, of 15 June 2015.

By kind invitation of Baroness Falkner of Margravine, The Russia Studies Centre at The Henry Jackson Society is pleased to invite you to a discussion with Bruce Misamore, former Chief Financial Officer of YUKOS Oil Company. Misamore will detail his battle seeking legal redress for Yukos shareholders and outline the importance of the Yukos ECtHR ruling as a legal precedent. In addition to this, he will also talk about the fight for shareholder rights in over 15 other jurisdictions in pursuit of justice and the recognition of the damage to shareholders as a result of the world’s largest expropriation. Drawing upon his experiences, he will suggest what lessons others can learn about taking Russia to court.

 

Biography

Bruce Misamore was Chief Financial Officer of YUKOS Oil Company in Moscow from 2001 until his retirement in 2005. During this time, he was also Deputy Chairman and a member of the YUKOS Management Committee and a member of the Executive Committee of the Board of Directors.

Prior to his role at YUKOS, Misamore was Senior Vice President – Finance and Treasurer of PennzEnergy Company. He also held roles as Vice President and Treasurer at Pennzoil Company, as well as various financial management positions at Marathon Oil Company and USX Corporation. Misamore was a YUKOS representative to the World Economic Forum and held membership on the Boards of the US-Russia Business Council, the International Institute for Management Development (IMD) and the Supervisory Board of Mazeikiu Nafta.

In 2004 he was named the top CEO/CFO in Russia for investor relations by IR Magazine, and has been recognised as an Outstanding Graduate of Bowling Green State University, where he taught Finance.

For more than 10 years he has been leading the legal campaign against the Russian government seeking compensation for 55,000 Yukos shareholders for their lost investments.

Misamore is a member of Financial Executives International, sitting on the Board of its Houston Chapter, the Board of the Houston FEI Scholarship Foundation and serves as a Director of CompUDopt, a Houston-based charity providing used computers to disadvantaged students.

 

About the Russia Studies Centre

The Russia Studies Centre is a research and advocacy unit operating within The Henry Jackson Society dedicated to analysing contemporary political developments and promoting human rights and political liberty in the Russian Federation. The Centre is headed by Dr Andrew Foxall.