On Thursday night Yukos entered a new appeal in the Houston court

Tuesday, August 4, 2020

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The company in disfavor asked to put its assets under the protection of the US bankruptcy court in Houston for the period of time when the higher instance is considering the appeal against this court's decision to discontinue the consideration of the Yukos case in the USA. The company motivates its request, in particular, by the reports on the process of unification of Gazprom and Rosneft. The plans of merger of Gazprom and Rosneft have now been resumed because of the discontinuation of the consideration (of the Yukos application for bankruptcy by the Houston court), the appeal, sent to Judge Letitia Clark, reads. The Yukos lawyers refer to several precedents in US legislation and state that the necessary requirements for a ban on all operations with the Yukos assets have been met. One of such requirements is existence of signs telling the judge of probability of success of the appeal lodged. The new Yukos appeal stresses that the character of the arguments and facts, cited by the Russian company in its defense, from the legal point of view alone confirms probability of the appeal's success. Without a judicial ban Yukos has no means to fight those who will try to seize its assets, the appeal says. On Thursday Judge Letitia Clark turned down Yukos' request to reconsider its application for bankruptcy in the USA. She thereby confirmed her February 24 ruling that the Yukos case cannot be considered by a US court. In a talk with RIA Novosti lawyer of Deutsche Bank Hugh Ray confirmed the judge's decision to deny Yukos reconsideration of the case. We are gratified by such a decision, said the lawyer, according to him the bank he represents does not intend to take any further actions, considering this issue to be settled. Yukos filed an action in the Houston bankruptcy court in December 2004.In this way Yukos planned to hamper sale of its main production unit - Yuganskneftegaz.

Bookmark On Thursday night Yukos entered a new appeal in the Houston court