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YUKOS Oil Company plans to pay $490m to its creditors. Preliminary payments have already been made in the amount of $300m, YUKOS Chief Financial Officer Bruce Misamore said Monday. According to him, YUKOS has about $1bn to $1.5bn in cash and cash equivalents.
Mr. Misamore said the company would be unable to pay its tax debts unless the Tax Ministry lifted a freeze on YUKOS assets. He added that the Tax Ministry might make further claims, in addition to RUR 99.3bn (about $3.4bn).
The Chief Financial Officer said YUKOS had its own ideas on how to pay the tax debt, but they had not yet been discussed with the government. He said it was unclear would happen to the company in the future.
Mr. Misamore also denied that Simon Kukes was going to resign as the company’s Deputy CEO.
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