Russian oil firm Yukos has brought in government insider Viktor Gerashchenko to spearhead its effort to avoid bankruptcy by seeking to settle a massive tax bill
Published:
26 June 2004 y., Saturday
Russian oil firm Yukos has brought in government insider Viktor Gerashchenko to spearhead its effort to avoid bankruptcy by seeking to settle a massive tax bill.
Yukos also replaced Chief Executive Simon Kukes with U.S. oilman Steven Theede at its annual general meeting Thursday.
Analysts said Kukes had failed to make progress in a $3.4 billion tax dispute, and Gerashchenko -- a former central bank chief and proven crisis manager -- would be able to bring his establishment credentials to the negotiating table as Yukos chairman.
A former senior executive in energy giant ConocoPhillips, Theede comes in at a time when the firm is mired in court battles and its main shareholder and former CEO Mikhail Khodorkovsky is on trial for fraud.
Last week, the company wrote to Russian Prime Minister Mikhail Fradkov proposing to save itself by handing over assets in lieu of tax and buying out the 32 percent stake of Khodorkovsky, Russia's richest man.
Šaltinis:
cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The EBRD is making a €4 million equity investment in Geofoto, a Croatian geodetic company offering mapping, geodetic survey, photogrammetry, geoinformatics and aerial survey services, to support its drive to expand operations on international level.
more »
Nordea came out of 2009 in an even stronger position, despite one of the most challenging years for decades. Risk-adjusted profit increased 22% and our capital position and cost of funding are among the best in Europe.
more »
MEPs gave the green light on Thursday for EU funding to help Europe's unemployed start up small businesses.
more »
MEPs are deeply concerned about the long-standing and growing presence of al-Qaeda, and the deteriorating security, social and economic problems in Yemen, which they think could destabilise neighbouring countries.
more »
At the start of a new decade, Sub Saharan Africa is reeling from the effects of three major global crises – food, fuel and financial – that have reversed many of the economic achievements of the last 10 years and left some growth projections at levels below those of 30 years ago.
more »
The 5th High-level Seminar of Central Banks in the East Asia-Pacific Region and the Euro Area was jointly organised by the European Central Bank and the Reserve Bank of Australia, in cooperation with the Hong Kong Monetary Authority.
more »
The EBRD and European Fund for Southeast Europe are boosting the availability of financing to private businesses in Moldova with a $10 million loan to ProCredit Bank in Moldova for on-lending to micro and small enterprises.
more »
The EBRD is supporting the development of the retail infrastructure in Croatia with a €68 million loan to finance the construction of a modern shopping centre in Split, the second largest city in Croatia.
more »
The European Bank for Reconstruction and Development has agreed to sell its 15 percent stake in OAO Swedbank Russia to its parent and major stakeholder, Sweden’s Swedbank AB, a move which would give it full ownership of its Russian subsidiary.
more »
The Ministers of Industry took the first steps in San Sebastián today to make the electric vehicle a reality in Europe and agreed that European institutions, with the EC at the head, should lead a common strategy on electric vehicles.
more »