The Justice has thus confirmed her own verdict of February 24-it said an US-based court was incompetent to consider the Yukos affair.
Hugh Ray, Deutschebank lawyer, confirmed the news for Novosti. "We were glad to hear it," he said. His client bank considers the matter sealed, and will not do anything else on it, he added.
As Novosti asked Mr. Ray about what moves he expected of Yukos, he merely said: "It's up to them."
The Houston federal bankruptcy court for Texas' south district held hearings today on a Yukos appeal to urgently reconsider its claim. A refusal to consider it will badly damage corporate property, insisted the plaintiff. The application also demanded a judicial ban on whatever further transactions involving Yukos assets.
Justice Clark determined, February 24, to meet a Deutschebank claim and stop Yukos case consideration in an US law court. A considerable part of Yukos business and finance remains in Russia, so the case demands Russian government participation going on. No precedent in the US judicial practice concerns a corporation that has a leading position in the economy of its host country, she pointed out in a verdict.
Yukos first applied to the Houston court, December last.
