Court stops Yukos share grab
A Russian court stopped the government’s seizure of shares in a key subsidiary of a troubled oil giant today, the ITAR-Tass news agency reported.
The Moscow Arbitration Court said that bailiffs had acted illegally when they seized shares of Yuganskneftegaz, a key Yukos production asset, the agency said.
The ruling is a major legal victory for Yukos, which warned that it could be bankrupted if the authorities sell Yuganskneftegaz, which produces about 60% of Yukos oil output.
The company is charged with failing to pay billions of euro in taxes since the turn of the century.
