Bankruptcy plan &#39;will not deter&#39; Yukos sale
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YUKOS shareholders gave warning yesterday that the oil giantâs attempt to seek bankruptcy protection in the US was unlikely to prevent the Russian Government-ordered
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MOSCOW, Dec. 17 -- Russia pledged Friday to  ignore a U.S. court ban on the looming auction of oil giant Yukos' key production unit, while a consortium of Western banks reportedly put on hold billions of dollars in credit for the state-run Russian gas company that was expected to buy the unit.
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Russia pressed ahead yesterday with controversial plans to break up the country&#39;s biggest oil company Yukos, setting a date of December 19 for an auction of its main production unit at a bargain basement starting price of $8.65bn (Â£4.88bn).
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Russia&#39;s embattled oil giant Yukos raised the white flag and said it would seek &quot;liquidation or bankruptcy&quot; after the forced government sale of its key oilfield next month, the company said yesterday.
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State-controlled companies have every right to bid for Yukos assets if they are sold to pay off the firm&#39;s whopping tax debt, although the government is not seeking to nationalize the company, President Vladimir Putin said Friday.
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Embattled Russian oil major YUKOS   should hear later Thursday whether a U.S. bankruptcy court will  back its last-ditch attempt to halt the sale due Sunday of its  main production unit.
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NEW YORK/HOUSTON  - Russian oil company YUKOS will  go before a U.S. bankruptcy judge on Thursday, seeking to keep  alive its claims to the empire now dismantled by Moscow in the  ongoing tax dispute there.
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Investors refrained from trades in Yukos as they awaited a critical court decision on whether Russia's embattled oil giant could use its contested stake in a rival company to pay off its crushing tax bill.
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Russia is set to go ahead with a sale of the main production asset of Yukos, the countryâs embattled oil company, despite an injunction issued late yesterday by a US court.
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MOSCOW: Russia has said it would go ahead and sell Yuganskneftegaz, the main oil production unit of YUKOS, despite a US bankruptcy court order that seeks to halt Sundayâs auction for at least 10 days.
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Russian oil major YUKOS has filed for  bankruptcy protection in a U.S. court and will seek an  injunction to stop Russia from auctioning off its main  production unit on Dec. 19, it said on Wednesday.
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The Russian oil giant Yukos said on Friday that management was putting together an emergency plan to continue running the company for a few months, even after the auction of its prize asset next month.
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Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company YUKOS  despite a U.S. bankruptcy court decision to block it for several days.
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Russia said on Friday it would go ahead  and sell Yuganskneftegaz, the main oil production unit of  YUKOS, despite a U.S. bankruptcy court order which seeks to  halt Sunday's auction for at least 10 days.
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Embattled Russian oil group YUKOS (YUKO.RTS: Quote, Profile, Research) should hear later on Thursday whether a US bankruptcy court will attempt to hold up the
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Russia is vowing to proceed with an auction of oil giant Yukos' key production subsidiary, saying a U.S. court ban is irrelevant. But the expected winner of Sunday's auction, the state-run Russian gas company Gazprom, may not be able to pay after a consortium of Western banks reportedly put on hold billions of dollars in credit it needs to fund its bid.
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Deutsche Bank has filed a motion to dismiss a bankruptcy claim by Yukos in the US after a Houston court barred the German bank from lending money to Gazprom to bid for Yuganskneftegas, Yukos&#39;s main asset.