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Evaluators put the value of Yukos assets awaiting liquidation at $22 billion
Evaluators put the value of Yukos [RTS: YUKO] assets awaiting liquidation at $22 billion, the press secretary of the Russian oil company's bankruptcy receiver said Friday. "On January 19, Yukos bankruptcy receiver Eduard Rebgun met with the head of a consortium of evaluation companies, Yevgeny Neiman, who informed him about the preliminary results of work to assess the company's assets," Nikolai Lashkevich said. He said the court-appointed receiver had asked for the valuation to be completed as soon as possible, after which he would submit to the creditors' committee proposals on the procedure, terms, and timeframe for selling the company assets. The new asset value estimate is about $4 billion below total creditor claims against Yukos. A court earlier upheld a decision by a meeting of the oil producer's creditors to declare the company bankrupt, rejecting an appeal lodged by Yukos last August. The company, once Russia's largest crude producer, was declared bankrupt August 1 after three years of litigation with authorities over the tax arrears. The Yukos group, whose founder Mikhail Khodorkovsky is serving an eight-year prison term for fraud and tax evasion, now faces multi-billion dollar claims from creditors, including Rosneft-owned former production unit Yuganskneftegaz, the Federal Tax Service, Rosneft and more than 20 other companies. State-controlled oil company Rosneft [RTS: ROSN] said earlier it might buy more assets from Yukos to optimize its balance between oil refining and production. Energy giant Gazprom is also expected to dominate Yukos asset auctions.
Print Evaluators put the value of Yukos assets awaiting liquidation at $22 billion Bookmark Evaluators put the value of Yukos assets awaiting liquidation at $22 billion

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