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 European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair.
more »
The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008.
more »
On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius.
more »
The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan.
more »
The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way.
more »
Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy.
more »
The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments.
more »
The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania.
more »
The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain.
more »
The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF).
more »