Update 4: Yukos Files for Bankruptcy in US
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The embattled Yukos oil company has filed for bankruptcy in the United States and appealed for a temporary restraining order and injunction against the auction of its main production unit that is scheduled for Sunday.
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Russian oil firm Yukos' battle for survival is set to rumble on after a US judge sets the date for a bankruptcy hearing.
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Yukos could declare bankruptcy before the new year following fresh claims that could leave the embattled gas giant facing a tax bill for $17 billion.
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A Russian court declares oil firm Yukos bankrupt, ending a three-year court battle for its survival.
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MOSCOW  - Oil giant Yukos will not file for bankruptcy despite its dire financial situation and an increasingly desperate fight with tax authorities over a nearly &#36;7-billion-US back tax bill, the company's chairman said in a newspaper interview.
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A US district court judge has upheld a bankruptcy court order temporarily blocking the auction of the main production subsidiary of one of Russia&#39;s biggest oil companies, Yukos.
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DEUTSCHE Bank has dismissed as a &#39;stunt&#39; the attempt by Russian oil giant Yukos to claim US bankruptcy protection and says it should be thrown out of court in Houston.
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OAO Yukos Oil Co., Russia&#39;s second- largest oil producer, said it sought Chapter 11 bankruptcy protection in the US and requested an emergency court hearing to stop the government&#39;s auction of its biggest unit.
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The Russian oil giant files for bankruptcy protection in the US to try to stop the sale of its main production arm.
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Russian oil giant Yukos yesterday increased the stakes in its battle with the Kremlin when it filed for bankruptcy in the United States in an unusual move possibly intended to pitch Washington against Moscow.
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Yukos warned yesterday it could declare bankruptcy within months following fresh tax claims that could leave Russia&#39;s biggest oil company facing an astronomical bill of $17 billion (R104 billion).
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MOSCOW  - In an eleventh-hour move, the Yukos oil company has filed for bankruptcy in a United States Court and is demanding the cancellation of this weekend's auction of its main production unit.
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Russian oil major YUKOS said on Wednesday it had filed for bankruptcy protection in a US court and would seek an order from the court to halt the Dec. 19 sale by the Russian state of its main oil unit.
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HOUSTON -- A US bankruptcy judge has issued a temporary restraining order to halt the planned auction of Russian oil company Yukos&#39; main oil-producing subsidiary, Yuganskneftegaz, Reuters reports.
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Yukos attorneys told a US bankruptcy judge that they will seek $20 billion in damages from the company or companies that bought its Siberian chief asset Yuganskneftegaz at an auction over the weekend, Agence France-Presse reported.
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OAO Yukos, once Russia' biggest oil company, was declared bankrupt Tuesday after a three-year campaign by government tax authorities that critics called a politically motivated campaign against Yukos' founder.
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MOSCOW -- The Moscow Arbitration Court ruled yesterday embattled oil giant Yukos must pay $1.34 billion US in fines and penalties as part of a $4.