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Yukos appeals court ruling to appoint external administrators

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MOSCOW, April 13 (RIA Novosti) - Embattled oil company Yukos said Thursday it had appealed a ruling by Moscow Arbitration Court to appoint administrators to run the company until it paid off its creditors.

The press service of Moscow's ninth arbitration appeals court said it had received the appeal, but that a date had yet to be set for the hearing.

Moscow Arbitration Court had appointed Edward Rebgun from the Russian Union of Industrialists and Entrepreneurs as temporary external manager to oversee Yukos during its ongoing bankruptcy case.

A consortium of banks is seeking Yukos' bankruptcy after the former oil giant defaulted on part of a $1-billion syndicated loan arranged three years ago by Societe Generale SA along with Deutsche Bank AG, Citigroup Inc., and HSBC plc.

On March 28, Russian state-owned oil company Rosneft also asked the court to recognize the bankruptcy, saying that Yukos had failed to make regular payments on its $482-million debt over the last 10 months.

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