Yukos files for U.S. bankruptcy court
Stark Russian oil giant Yukos a last ditch bid law aimed at reducing the threat of its auction of basic skills production unit, the demand for protection of insolvency proceedings in a U.S. court and wants an injunction against the sale.
Yukos’ emergency costume research under Chapter 11 bankruptcy protection in the USA was Bankruptcy Court in Houston, Texas, on Tuesday after management of the company, pumps a fifth of Russian oil has decided that there is no possibility of controlling the process by the Russian judicial system.
“Our management to conclude that absolutely no chance, our right to obtain the Court of Russia,” Chief Financial Officer, said Bruce Misamore, in his statement under oath before the Court of Justice.
But even if the court grants the jurisdiction of Yukos, cancels the auction and recognizes the protection of enterprises, lawyers and analysts said the Russian government, stops short.
As a banal Kremlin to punish former CEO Mikhail Khodorkovsky’s perceived political ambitions, the campaign against Yukos and its owner, the company has reversed its value. Khodorkovsky has been in prison for 14 months, he tries, the costs, including fraud and tax evasion.
President Vladimir Putin has tenure cases, as part of the official procedure lasts against the shadow accounting and corruption.
In its request, Yukos said that, from October 31, their total assets amounted to approximately $ 12,276 billion and all its debts have been about $ 30.79 billion, including “alleged taxes vis-à-vis the Russian government.” He said that there were 200 to 999 creditors.
The foreign institutional investors, maintain about 15 percent of Yukos shares, some have lost $ 5.7 billion since April, Yukos, “said the Tribunal documents.
Saying the tax authorities, it has $ 27.8 billion Yukos and Yuganskneftegaz, which produces about 60 percent of Yukos oil, for the Sunday auction to cover part of the bill.
Observers suggest the tax claims have been developed for the aircraft to a Kremlin-affiliated companies - probable natural gas giant Gazprom.
“There can be only one real winner in this sale: Gazprom,” said Misamore at Yukos to seek an injunction.
Yukos officials say the auction starting price of $ 8.6 billion is a gift and you include the $ 15 billion to 18 billion dollars registered evaluating a Western investment bank.
“If the sale is completed, Yukos is definitely difficult to be damaged and irreparable,” the court said the bid.
Misamore in storage because he currently works from his home office in Houston and part of the company’s finances are in the city of Texas, the court should grant the discount.
“They have shown an essential relationship with the USA,” said Rhett Campbell, head of Houston-based Thompson and Knight law firm’s bankruptcy practice. “But obviously the biggest part of their fortune in Russia, it is clearly a Russian company. Now, they say their CFO is in Houston, and their principal place of business is in Houston, Texas.”
| Category Bankruptcy, Texas Attorney Lawyer |Related Articles
Sport at the time baseball it agrees that the Orioles
WHILE Commissioner Bud Selig is the study of steroids and vitamin B-12, it should also Baltimore Orioles - for fraud.Until yesterday evening, when she finally higher than the Yankees, Orioles, the discomfort of the range. While the Mets, Royals, Tigers, Blue Jays and Devil Rays have their share of trouble
If you do the icon of Texas
If you do Neiman Marcus. Keep it special. Hold the symbol of Dallas. Normally, I would say you, but it would mean that you have a good option. I do not think you're doing. You and your cohorts in Fort Worth, Texas Pacific Group and Warburg Pincus, New York believe that the plate
Fraud is spin-off from the explosion of the Internet
From its home base in an apartment in downtown Fort Worth, Dwight D. Dubose a New World Web Vision.com in line with plans to mail to public opinion.But first, he offered the camp of his company on the Internet, allowing about $ 230000 by 60 investors in 11 countries between
Out of tragedy a shift toward security
Dale Earnhardt death was the darkest moment in the history of NASCAR. It was also a catalyst for change .. Earnhardt was killed in an accident on the last lap of the 2001 Daytona 500 was the fourth case of the death of a NASCAR Nine months span, revolutionary and has
National Guarantee customers without liquidation of protecting leaves
Like thousands across the country, JoAnn Ness and David Hung thought they were buying peace of mind, if it prolongs purchased service contracts for its two cars.The factory warranty on their cars were nearing completion. But if the Round Lake Beach, Ill., couple recently a right to fix an oil leak,
Agencies information consumers fighter ordered freezes
Wearing his trademark fly, Eric Ellman, all day at work ready to explain why identity theft is not a threat as great as people think.His logic has often found friendly ears in Washington, DC, where Ellman, a lobbyist for the Consumer Data Industry Association (CDIA), champions the interests of three
Ken Lay Messes With Texas
NEW YORK - Kenneth Lay seemed nothing if not a loyal Houstonian. But it seems he is about to lay waste to the Texas constitution. Here's how: Just over 1.4 million Americans filed for bankruptcy last year, but it is the potential bankruptcy of just three Texans who credit-card companies can
Stolen E-mail slips Texas ID theft
By Chris Neely, Fort Worth Star-Telegram, Texas Knight Ridder / Tribune Business News- Implementation Act officials say, PO Box break-ins, especially in the apartment complex, are largely debt of 120 percent for an increase in identity theft national complaints during the year 2002. "They take us all over the Metroplex," said
You biz school deans classification costs their jobs?
A recent article in the Chronicle of Higher Education has received Dan Short's attention. The 60 years, dean of Texas Christian University's Business School has long been concerned by the fact that the MBA rankings by national publications contribute too much weight with American universities. And here it was in black and
Why the return of the long liaison?
News of the Treasury Department Wednesday that the government considers to return 30 years of commitment is not well with me. I was reminded that the mixture of feelings and headiness harass, that many of us have been in New York on the culmination of the stock market bubble. She knew