OAO Yukos Bids To Retain Control Of $20B Business

Law360, New York (June 5, 2006, 12:00 AM EDT) -- Facing more than $29.5 billion in claims and possible liquidation in a Russian bankruptcy court, OAO Yukos this week proposed an outline for a restructuring plan that would leave the struggling Russian oil company in control of its core business.

The outline, filed this week with the U.S. Bankruptcy Court in the Southern District of New York, proposes that Yukos’ core assets be left intact as a viable ongoing company with an enterprise value in excess of $20 billion, according to court documents.

It also proposes...
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