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Yukos files lawsuit against creditors' bankruptcy decision

MOSCOW, August 1 (RIA Novosti) - Yukos [RTS: YUKO] has filed a lawsuit to the Moscow Arbitration Court against a decision by the company's creditors to declare it bankrupt, a lawyer for the embattled Russian oil company said Tuesday.

A meeting of Yukos creditors voted July 25 to recognize the company bankrupt and start liquidation procedures.

Moscow's Arbitration Court started hearings Tuesday on the Yukos bankruptcy.

The liquidation would end years of legal proceedings against Yukos that have saddled the company with billions of U.S. dollars in back taxes.

The Yukos creditors earlier voted against placing the debtor under external administration and against the company management's financial restructuring plan.

Eduard Rebgun, the receiver managing the Yukos bankruptcy proceedings, said the company's liabilities recognized by the court totaled 491.6 billion rubles (about $18.2 billion), and balance sheet liabilities totaled 787.7 billion rubles ($29.2 billion).

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