Arbitration court appoints temporary external manager for Yukos

Subscribe
US
India
Global
The Moscow Arbitration Court has appointed a temporary external manager to oversee beleaguered oil company Yukos during its ongoing bankruptcy case.

MOSCOW, March 28 (RIA Novosti) - The Moscow Arbitration Court has appointed a temporary external manager to oversee beleaguered oil company Yukos during its ongoing bankruptcy case.

The court appointed Edward Rebgun, a member of the external management body of the Russian Union of Industrialists and Entrepreneurs, to the post.

Yukos bankruptcy is being sought by a consortium of creditor banks after it defaulted on part of a $1-billion syndicated loan arranged three years ago by Societe Generale SA with Deutsche Bank AG, Citigroup Inc. and HSBC PLC.

On Tuesday, Russian state-owned oil company Rosneft also asked the court to recognize Yukos as bankrupt, since it had failed to maintain payments on its $482-million debt over the last 10 months.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала