"Yukos assets. in particular, Yuganskneftetgaz were for auctioning off on a Russian court verdict. The bailiff was to comply, and offer a block for sale. Can one imagine, for instance, a Venezuelan law court harassing a sheriff as he follows an American verdict?" he said.
"Surprisingly, the court failed to delve into Yukos presence in the United States," added the expert.
"Yukos had no offices and no business in the States. Now it comes to apply for bankruptcy. It is quite natural to wonder just why it prefers U.S. jurisdiction to that of a country in which it has huge assets."
Russia's Justice Ministry bailiff service determined on November 18 to have a 76.79% Yuganskneftegaz stock auctioned off for Yukos back taxes of 2000 and 2001. Yuganskneftegaz is the oil giant's biggest production branch.
The company Baikalfinansgrup won the Moscow auction on December 19 at 260.75 billion rubles (over $9.1 billion).
Yukos had applied to the U.S. bankruptcy court for the southern district of Texas for protection from creditors. Three days before the auction, the court froze for ten days whatever transactions involving the plaintiff's assets.
