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 - Russia said on Friday it would go ahead with an auction to sell the key asset of embattled oil company Yukos despite a US bankruptcy court decision to block it for several days.
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Shareholders in Yukos are pondering liquidation or filing for bankruptcy, after deciding against a rescue plan for the embattled Russian oil firm.
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Russian oil group YUKOS has filed for  bankruptcy protection in a U.S. court in an attempt to stop  Russia's government from auctioning off its main production  unit on Dec. 19, it said on Wednesday.
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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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Embattled Russian oil group YUKOS should  hear later on Thursday whether a U.S. bankruptcy court will  attempt to hold up the sale of its main production unit this  weekend, but lawyers and analysts expect Moscow will go ahead  anyway.
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Washington - US bankruptcy law, invoked by Russian oil group Yukos on Wednesday, allows a company in financial difficulties to continue functioning while it seeks an agreement with creditors.
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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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Lawyers for core shareholders in Yukos have vowed to sue the Russia &#39;s gas giant Gazprom or any other buyer of the stricken oil group&#39;s main subsidiary, Yuganskneftegaz, which is up for auction.
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Russia said on Friday it would go ahead and sell Yuganskneftegaz, the main oil production unit of YUKOS, despite a US bankruptcy court order seeking to block Sunday&#39;s auction for 10 days.
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Embattled 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 back-tax bill, the company's chairman said in a newspaper interview.
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The floundering Russian oil giant Yukos filed for Chapter 11 bankruptcy protection in Houston Wednesday in an effort to stop the Russian government from selling its core production unit at an auction this weekend. Analysts predicted the move would have no real impact on the planned sale.
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Russian oil major YUKOS denied on  Wednesday reports it planned to sell its Lithuanian refinery  Mazeikiu Nafta to help cover its huge back tax bill.
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Oil firm YUKOS will continue to fight  against the Russian government in the courts to regain its  property whatever the outcome of a U.S. bankruptcy hearing this  week, a YUKOS executive said on Tuesday.
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The Russian oil giant Yukos said yesterday 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 in December.
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Russian oil group YUKOS has filed for  bankruptcy protection in a U.S. court in an attempt to stop the  Russian government from auctioning off its main production unit  on Dec. 19, it said on Wednesday.
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Embattled Russian oil giant Yukos has filed for bankruptcy protection in a US court in an attempt to prevent the forced sale of its main production arm.