ECHR judgment of July 3, 2018 in the case of Volokitin and Others (Volokitin and Others) v. Russia (applications NN 74087/10, 15410/11, 72789/12, 5359/13, 37098/13, 39017/13, 53719 (13,72539/13, 79934/13, 1026/14, 28411/14, 32615/14, 27904/15 and 9395/16).
The case successfully reviewed the complaints of applicants who purchased bonds of the state domestic winning loan of 1982 and complained that their property rights had been violated, since the bonds of the applicants were not redeemed by the Russian Federation. At the same time, despite the recognition by the respondent government of the obligations to redeem these bonds, the execution of the relevant regulatory legal acts was repeatedly suspended. The case has violated the requirements of Article 1 of Protocol No. 1 to the Convention (protection of property).
In 2010, 2011, 2012, 2013, 2014, 2015 and 2016, claimants were assisted in preparing applications. Subsequently, the complaints were merged and communicated to the Russian Federation.
In their applications, the claimants (15 people), who purchased the bonds of the state domestic winning loan of 1982, complained that their property rights had been violated, as the claimant bonds of the claimants were not redeemed by the Russian Federation. At the same time, despite the recognition by the respondent government of the obligations to redeem these bonds, the execution of the relevant regulatory legal acts was repeatedly suspended.
On July 3, 2018, the European Court unanimously decided that in the present case the authorities of the Russian Federation had violated the requirement of Article 1 of Protocol No. 1 to the Convention (protection of property). As regards the eight applicants, who, in the Court’s opinion, could not prove the fact that they owned a larger number of bonds, the Court considers that finding a violation in itself will constitute sufficient compensation. The European Court ordered the respondent Government to pay the three applicants EUR 2,490, EUR 822 and EUR 6 030, respectively, in respect of pecuniary damage. Other claimants did not submit a claim for compensation.