Yukos Loses $3Bln in Notes
March 24, 2006 Associated Press
Yukos said Thursday that promissory notes worth over $3 billion had gone missing and may have been stolen from a defunct trading subsidiary whose former general manager is the subject of a criminal lawsuit.
The news appears to nudge what was once Russia's largest oil producer closer to the abyss and could add further weight to a bankruptcy suit filed by Yukos' creditors that is due to be heard Tuesday.
The notes "may have been sold, at a reduced rate, to external parties," the statement said.
Company — YUKOS
Full nameYUKOS Oil Company
IndustryOil and gas