31 May 2004 17:48
Russian court upholds ruling invalidating Yukos share issue
Moscow, 31 May: The Moscow Court of Arbitration has upheld the 1 March ruling by a court of the first instance, which
looked into a suit brought in by two offshore companies and ruled that a share issue by the Yukos oil company had been
invalid, an Interfax-ANI [Petroleum Information Agency] correspondent has reported from the courtroom.
The court also turned down appeals launched by Yukos and by the offshore companies involved, namely Nimegan Trading
Limited and Gemini Holdings Limited.
[RIA-Novosti news agency reported at 1207 gmt 31 May 04 that the Moscow Arbitration Court granted a request by the
Russian Taxes and Levies Ministry and announced a recess until 2 June in the hearings on the action brought in by Yukos
to declare the ministry's decision to fine it R99.4bn unlawful.]
[Interfax news agency] |
RUSSIA IN FACTS
