Tuesday, February 14, 2012

Russia

Creditors Vote To Declare Yukos Bankrupt

Mikhail Khodorkovsky (file photo) (ITAR-TASS)

July 25, 2006 -- Creditors of Yukos today voted to ask a court to declare the troubled oil company bankrupt.

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July 25, 2006

The vote came after a bankruptcy administrator said Yukos' liabilities exceeded its assets by about 14 billion rubles ($530 million).

Yukos has already been forced to sell its main production unit to help pay.

Its founder, Mikhail Khodorkovsky is currently in a Siberian penal colony after being found guilty of fraud in a trial widely criticized as political.

(compiled from agency reports)

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