The verdict enters into force immediately after it was announced, and may be appealed against within 30 days.
As we reported from a session of June 29, the Board of Appeal of the Moscow Arbitration Court confirmed a verdict for the Yukos to pay 99.342 billion rubles, roughly $3.4 billion, as back taxes for 2000. Bailiffs started proceedings the next day. The stock of Yuganskneftegaz, Samaraneftegaz and Tomskneft - Yukos oil-extracting affiliates - was arrested, July 14.
Yukos lawyers doubted arrest legality, and so appealed to the Arbitration Court. The Yuganskneftegaz arrest was found illegal in the hearings of August 6. The Samaraneftegaz controversy will be heard, September 2.
As they were addressing today's session, the experts referred to the acting law on writ execution. As the plaintiff's oil-drilling branch, Tomskneft ought to be third on the order of priority in collecting the arrears. In compliance with the law, corporate money shall be first on that order, property outside basic corporate activities coming next.
More than that, the bailiff failed to check for his July 14 resolution whether the company possesses sufficient property to cover the arrears first and second on the priority order, pointed out the experts.
Next, they stressed, Yukos offered its 20% block of Sibneft - another oil giant - to cover the arrears. The bailiffs never gave a reply.
Tax Ministry spokesmen, on the contrary, found the arrest necessary. As ministerial lawyers presented the issue, Yukos branches were arrested only after their registers were studied. Yukos started paying sizeable sums as late as that, they emphasized.
