Yukos declared bankrupt
Published time: 2 Aug, 2006 05:12 Edited time: 2 Aug, 2006 09:12
Lawyers for Russian oil company YUKOS said they would appeal against Moscow arbitration court’s ruling that the firm was bankrupt.
YUKOS creditors – principally the tax authorities and state-controlled oil firm Rosneft – claimed the company owed around $18 billion. A court-appointed external supervisor said Yukos had no chance of recovery.