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 Investment Bank is providing a EUR 718 million strong support for rail transport, electricity distribution as well as energy efficiency and renewable energy in Turkey.
more »
The European Investment Bank (EIB) has approved a EUR 150 million loan for expanding the Port of Barcelona. EIB Vice-President Carlos da Silva Costa and the Chairman of the Barcelona Port Authority, Jordi Valls, signed the finance contract in Catalonia’s capital.
more »
The extent to which hedge funds should be regulated is one of the key issues facing MEPs on the Economic and Monetary Affairs Committee.
more »
The European Investment Bank (EIB) is lending CZK 2 billion (approx. EUR 73 million) to the Municipality of Plzen (West Bohemia) to implement priority urban regeneration schemes identified in the city’s 2004 Development Plan.
more »
High-speed rails, supporting indigenous people's rights, protecting nature and wildlife, student loan facilities, construction and refurbishment of hospitals and reduction of industrial pollution are just a few projects supported by the European Investment Bank.
more »
The European Commission has authorised, under EC Treaty state aid rules, €14.3 million of aid, which the Slovak authorities intend to grant to Volkswagen Slovakia, belonging to the Volkswagen AG, for the transformation of an existing plant in Bratislava.
more »
MEPs began acting on their new Lisbon Treaty power to co-decide fisheries policy with Member States on 1 December - the day the treaty took effect - with a Fisheries Committee indicative vote on three legislative proposals.
more »
With seasons’ holidays approaching DnB NORD Bankas will offer better cash exchange rates for Great Britain’s pounds, Swedish, Norwegian and Danish krones until 31st December.
more »
The European Investment Bank (EIB) today agreed to provide a EUR 40m loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
more »
The European Commission has today approved an application from Lithuania for assistance under the European Globalisation adjustment Fund (EGF).
more »