Saturday, June 25, 2022
Sign-In
|
Sign-Up
|
Contact Us
|
Bookmark
Home
News
Articles
Forum
Search
Directory
Blog
Accounts
Business
|
Politics
|
Technology
|
Entertainment
|
Sport
|
Other
|
All Published News
|
The Moscow Arbitration Court ruled that Yukos does not have to pay a 6.748 billion ruble fine
On June 29, the Moscow Arbitration Court's decision to charge Yukos 99.4 billion rubles in back taxes for 2000 took effect. The next day, enforcement proceedings began and Yukos was given five days to voluntarily transfer the owed sum. When the company failed to pay the required amount on time, bailiffs began to exert pressure on the company. On July 9, executive bailiff Solovyova ruled that Yukos would be fined 7% of the amount owed. The company found this decision illegal and went to court. According to Yukos lawyers, Yukos could not have paid such a substantial amount within five days. According to Yukos representatives, a penalty can only be incurred if the debtor refuses to pay the sum. Yukos lawyers said that the necessary amount was not available in Yukos accounts. Moreover, all of its property was arrested and, consequently, the company was deprived of the opportunity to pay voluntarily. Bailiffs said that lack of money was not an excuse for failing to adhere to the court's decision. They also argued that Yukos had the opportunity to pledge or sell the company's 25% stake in Sibneft. In response, Yukos lawyers said that the bailiffs had suggested transferring the company's stake in Sibneft. "However, bailiffs arrested the registers of shares of Yukos' main production subsidiaries," the lawyers noted. The court found Yukos lawyers' arguments more convincing. After reports of the court's decision that Yukos would not be fined 7 billion rubles, Yukos shares rose rapidly. Yukos shares rose 15.35% to 131.5 rubles on MICEX, and 19.18% to $4.35 on RTS. Other blue chip stocks fluctuated and Mosenergo shares remain leaders of the decline.
Related News
The Central Bank yesterday deprived of licenses four sizeable banks
National Joint-Stock Company Neftegaz Ukrainy is going to pay off in August its $1.4 billion debt to Russia's Gazprom for the gas supplied to Ukraine
The following rates of exchange of foreign currencies to the ruble of the Russian Federation
Court bailiffs have ordered the YUKOS oil company to repay 15 billion roubles in line with the national Tax Ministry's lawsuit
Gazprombank's and Raiffeisenbank's subsidiaries have set up the company RosUkrEnergo to make purchases of Turkmen gas for the Ukrainian market
The joint-stock company Russian Railways will build railways in foreign countries
German Gref:"The privatisation of Aeroflot and Svyazinvest is dictated by market competition"
Court bailiffs have ordered the YUKOS oil company to repay 15 billion roubles in line with the national Tax Ministry's lawsuit
The shares of the Yuganskneftegaz company will soon be evaluated
Aeroflot Russian Airlines will today announce a tender for 30 short-haul passenger jets
The Gasprom concern extracted 276.8 billion cubic metres of natural gas
The following rates of exchange of foreign currencies to the ruble of the Russian Federation
The Moscow City Court has confirmed that the arrest of the Swiss bank accounts of Vasily Aleksanyan and Anton Drel was legal
On Tuesday the WTO General Council will open its session in Geneva
International auditors have finished checking management of the Aeroflot
YUKOS' registrar M-Reestr repudiated YUKOS shares issued within the framework of the merger with Sibneft
The Central Bank of Russia set the weighted average exchange rate of the euro at 35.24 RUR/EUR for June 27
Those attending a Russian-Ukrainian business forum in Yalta will discuss the creation of a Russian-Ukrainian free-trade zone
Acting through his lawyers, former Yukos CEO Mikhail Khodorkovsky, yesterday proposed that a state representative head the company's board of directors
The press service of the Russian government has published Prime Minister Mikhail Fradkov's order to auction Lukoil's state-owned shares
Jul
August 2004
Sep
Mo
Tu
We
Th
Fr
Sa
Su
26
27
28
29
30
31
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
2
3
4
5