YUKOS Gets More Cash But Bankruptcy Looms
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Russia&#39;s YUKOS raised $357 million to put toward a $3.4 billion tax claim on Tuesday by selling a stake in a gas venture to partner TNK-BP, as analysts said the company was technically ready for bankruptcy.
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Oil giant Yukos has its tax bill for 2001 upped by Russia's tax ministry, a move that may push it closer to bankruptcy.
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Description: Russian oil company Yukos files for bankruptcy protection in a US court in an attempt to prevent the Russian government from auctioning off the company&#39;s main asset.
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Competition heated up for the foreign assets of shattered oil company OAO Yukos on Thursday, while its board chairman hinted that a mystery investor could make a last minute offer to buy the company's billion-dollar debts as bankruptcy loomed.
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Russian oil giant Yukos teetered nearer to collapse as the company said its shareholders would vote on whether the company should file for bankruptcy or liquidation next month.
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As YUKOS contemplates a staggering $17.5 billion tax bill, the spectre of bankruptcy has never seemed closer for Russia&#39;s biggest oil company.
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Russia pressed ahead on Friday with the last step in the destruction of oil major YUKOS, saying it will auction its main Siberian unit on Dec. 19 for $8.65 billion and hit it with a new tax claim.
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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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Oil major YUKOS will hold a shareholders meeting on Dec. 20 to decide whether to file for bankruptcy or liquidate the firm after it was hit with huge new
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The Russian oil giant Yukos on Friday issued sharply higher revised estimates of reserves for its biggest subsidiary, one currently being appraised for sale by the government, and reiterated that Yukos was operating financially on a &quot;day-to-day&quot; basis and
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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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Oil major YUKOS  said on Wednesday it had filed for bankruptcy protection in a U.S. court and would seek an order from the court to halt the Dec. 19 auction by the Russian state of its main production unit.
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MOSCOW : Yukos won a stay of execution when a Russian official said its main production unit will have three months to scrape up cash to cover a crushing tax bill that could otherwise bury the wounded oil giant.
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SAN FRANCISCO (CBS.MW) -- Russian oil giant Yukos, fighting to keep Moscow from auctioning off its biggest asset, has been granted a hearing Thursday before a federal bankruptcy court judge in Houston.
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Russia's Yukos oil company has paid &#36;2.2 billion of its &#36;3.4 billion tax bill for 2000, Yukos' top finance official said Friday, as he renewed warnings that the embattled company was close to bankruptcy.
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MOSCOW Yukos has substantially increased the reserve estimates for its biggest subsidiary, one currently being appraised for sale by the government.
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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.