Moscow arbitration court has upheld the executive fee of 5.5 billion rubles to be recovered from Yukos

Monday, December 9, 2019

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The Moscow arbitration court has upheld the executive fee of 5.5 billion rubles to be recovered from Yukos, thus dismissing the oil major's appeal, a RIA Novosti correspondent reports. Earlier it became known that on September 2, 2004 the Russian Tax Ministry decided to increase its back tax claims to Yukos for 2001 by 119.9 billion rubles ($1 equals 28.77 rubles). 79.4 billion was to be recovered without further authorization. The ministry submitted the necessary documents to the bailiffs' service and it launched additional proceedings on September 9. Yukos was allowed to pay off the debt voluntarily before September 20. Yet the company failed to do it, and on September 20 the bailiffs issued an order to impose an executive fee for the recovery of 5.549 billion rubles. Yukos contested the order in court, pointing out that the company had valid excuses not to pay off the debt: its accounts are arrested, and the government withdraws money from them to recover the 2000 back taxes and accumulative arrest imposed by the Moscow Basmanny court. Representatives of the ministry and bailiffs, who spoke in court on Friday, said they believe the order was legitimate and well grounded. After the trial Yukos's lawyers told journalists that the oil major would appeal the court's decision

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