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The creditors' committee of the now bankrupt oil firm Yukos will hold another auction to sell the company's transport and bank assets in summer
The creditors' committee of the now bankrupt oil firm Yukos [RTS: YUKO] will hold another auction to sell the company's transport and bank assets in summer, the press secretary of the Yukos bankruptcy manager said Wednesday. At its meeting Wednesday, the creditors' committee prepared two more lots for sell-off, Nikolai Lashkevich said. Lot No. 15 includes the shares of Solidarnost commercial bank, with the lot's initial price of more than 162.39 million rubles (about $6.3 million), Lashkevich said. Lot No. 16, with an initial price of 8.95 billion rubles (about $347.4 million), includes Yukos' transport companies and also the assets of the sixth auction declared invalid in April due to a lack of bids, Lashkevich said. According to preliminary information, the auctions will be held in early June. Yukos, once Russia's largest oil company, was declared bankrupt August 1, 2006, after three years of litigation with tax authorities over the company's tax arrears. Yukos, whose founder Mikhail Khodorkovsky is serving an eight-year prison term in Siberia after being convicted of fraud in May 2005, faces a total of more than 700 billion rubles (about $26.9 billion) in claims from creditors.
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