February 3, 2011 at 15:50

Enough of "Yukoses"!

Regarding the article in "The Guardian" I want to note the following:

It goes without saying that I regard the last sentencing of M. Khodorkovsky and P. Lebedev as unjust. At least because it is impossible to condemn people twice for the same crime. The Court is dependent, the Justice approach is selective. Tax “schemes” were used by all children of the "collateral" auctions and Chubais-led privatization. Truism, but Nietzsche rightly believed that we pay the highest price per ignoring platitudes. I believe Judge Danilkin should be dignified as sh&%.* I wonder, do those Judges sleep well in flats “donated” to them by Luzhkov in violation of federal law? For example, Judges O. Solopova of Basmanny Court or E. Karpushkina of Tverskoy Court?

However, such cases as Yukos should not be tolerated anywhere. It goes too far when the Germans and the GE guys in Luxemburg stage a mini-Yukos for Mr. Lebedev in Europe, taking part actively on the topic. What is the difference between Yukos's fate and the fate of National Reserve Corporation’s investments in the German airline Blue Wings and the purchase of 15 new Airbus aircrafts?

Is it because Europeans have no Ustinov (Prosecutor General) of their own?

German regulators have banned flights of BW at the peak of the crisis (March-April 2009), using as a pretext the balance sheet (sort of a payment delay). As a result the planes of the company did not fly for 42 days and it lost all its passengers. The planes were arguably newer than Lufthansa's, and the company’s losses were fewer than of any other big German company (we have been # 5). There were no problems with NRC's backing of BW, it is a common practice for new carriers.

But you just try and sue the government of Germany – you will always lose. Of course, that does not prevent a certain Franz Zedelmayer – a German national (who allegedly lost $5 Million (!) on the real estate market in St. Petersburg in 1990s) from arresting Russian government assets through the decision of the Stockholm Court.

Thus, the German Government, represented by LBA, who provided help to the "native" carriers during the crisis, buried the rival Blue Wings. And the largest American corporation - General Electric, through its aircraft leasing offshore-step-daughter in Luxembourg - GECAS, immediately confiscated our Airbuses - they have been colleteralised. But that's not all: having another $70 million of our pledged assets, GECAS decided to keep the money and spend it on an unreasonable repair of aircrafts. And tries to collect from us the so called "swap brakes" - special derivative credo buys in the market. Another $14 mil.!

NRC has invested over half a billion dollars in this project. Did the money just disappear? Of course not! It was ransacked by German and American fraudsters by means of offshores, with authorities looking in the other direction. If The U.S. gov-t is so proud of their Foreign Corrupt Practices Act (FCPA), how come offshore GE "subsidiaries" provided kickbacks to the management of "Aeroflot" without any obstacle for the leasing of equipment, and to health care officials for purchasing tomograph scanners. So why am I the only one investigating this - including an Iranian trail, which GE definitely knew about? Who is going to join me? Any US newspapers?

One should at least officially notify all customers of GECAS (not only in Russia): that they should check their contracts and find out that it may well be that they are dealing with a possible robbery in broad daylight, staged from Luxembourg and London. Do they seriously think that U.S. Foreign Corrupt Practices Act (FCPA) can be crawled around through offshores? Look what’s been done in Aeroflot! But we are not a state-controlled company - even though our management was corrupt. O'K, we’re used to corrupt Russian nationals, but what about American, German, Dutch and other nationals who are also corrupt?


P.S. Another “Yukos” is brewing up in Ukraine. Here the fight against NRC in Kiev and Crimea is commencing and (approximately $300 million was invested in the real estate sector and recreational complexes) is "covered" personally by the chief of administration, S.L. Smeshno. In 2012, guests of the World Football Championship will be settled in the hotel "Ukraine", whose infrastructure and services look more like those of a barn. And all of our 18 hotels will be closed in Crimea. However, i do not care much: I earned nothing. I am interested in something else: Will Mr. L also take away the Chekhov theatre in Yalta (we lease it) and the Church in Alushta? Well, there will be many wonderful reasons to discuss the investment climate with our colleagues (IMF, World Bank, business community), and a lot of work for our lawyers in international courts. By the way: maybe we should investigate the activity of RosUkrEnergo as well?

P.P.S. It was a bit sad to learn that G.E. CEO Jeffrey Immelt will lead President Obama's new Council on Jobs and Competitiveness instead of P.Volker, whom I admire & know personally. But probably Mr Immelt knows nothing about the games his people play in European offshores.

* I consent to this post being considered as disrespectful to the Russian juridical system in general and to Judge Danilkin in particular. I mean, is it normal that I lost over 50 cases to Luzhkov in Moscow courts?

Your comment

In order to post comments on this site, you need to log in

OpenID is a safe, faster and easier way to log in and leave comments. If you use any of the following services, you already have your own OpenID:,,, etc. Just enter your login (e.g.