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54 creditors claim $22 bln from Russia's Yukos-1

November 3, 2006 RIA Novosti
Yukos [RTS: YUKO] is facing 586.6 billion rubles (almost $22 billion) in claims from its 54 registered creditors as of November 2, the Russian oil company's bankruptcy receiver said Thursday.

The Moscow Arbitration Court declared Yukos bankrupt on August 1, upholding a July 25 vote by the company's creditors. The ruling came after three years of litigation with tax authorities over the company's tax arrears.

Once Russia's largest oil company, Yukos, whose founder Mikhail Khodorkovsky is serving an eight-year prison term after being convicted for fraud in May 2005, is to deal with such major creditors as the Federal Tax Service, state-run oil company Rosneft, including Rosneft-owned Yukos' former production unit Yuganskneftegaz, and others.

The arbitration court is yet to decide on whether to include other claimants in the Yukos creditor register in the near future.

Company — YUKOS
  • Full name
    YUKOS Oil Company
  • Industry
    Oil and gas