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Yukos debt grows on Tomskneft claim



By Upstream staff 

Moscow's arbitration court has upheld a 780 million ruble ($29.99 million) claim lodged by Russian oil producer Tomskneft against its parent company Yukos.

Following today's decision, Yukos, once Russia's largest independent oil producer, which was declared bankrupt in August following three years of litigation with the tax authorities, will now have to pay a total of 13.08 billion rubles to Tomskneft, which is still in its possession, Russian news agency RIA Novosti reported.

But the latest sum can only be repaid after Yukos has repaid outstanding debts to its other creditors.

Yukos, whose founder Mikhail Khodorkovsky is serving an eight-year prison term in Siberia after being convicted of fraud in 2005, has debts totalling about $27 billion. Its creditors include the Federal Tax Service and state-controlled Rosneft.


Monday, 02 April, 2007, 10:19 GMT  | last updated: Monday, 02 April, 2007, 10:19 GMT

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