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 RUSSIA IN FACTS
20 December 2004 13:02
Yukos shareholders' lawyers to sue winners of Russian oil auction

US lawyers for the Menatep group are not ruling out attempts to impose sanctions against the winner of the auction of 77 per cent of the shares of Yuganskneftegaz [Yukos main production company], and against organizations providing funding for acquisition of the shares. This statement was made by lawyers for the Greenberg Traurig law firm, Sandford Saunders and John Pappalardo, who are representing the interests of the Menatep group and are intending be present at today's auction in Moscow.
"Our presence underlines the resolve of the Menatep group to defend its own interests in all possible jurisdictions," said Saunders.
He stressed that actions will be brought against the winner of the auction. In particular, the lawyers did not rule out the possibility of attempting to seize foreign assets of the winner of the auction. "We have experience of tracking the supply and sale of oil in other countries," Saunders added.
Saunders said the first action may be brought in the UK. "Actions may also be expected in courts in Western Europe and the USA," he remarked.
In addition, the lawyers, while admitting that the temporary ban on the sale of Yuganskneftegaz shares imposed no obligations on the Russian government, did not rule out raising the issue of bringing an action against the Russian government should it provide funding for the winner of the auction, because commercial operations would then be involved. 

Source: ITAR-TASS news agency, Moscow
BBC Monitoring


[BBC Monitoring]
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