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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 name
    YUKOS Oil Company
  • Industry
    Oil and gas