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Yukos Strikes Back With $11.5Bln Suit.
(From The Moscow Times)
The same day former Yukos CEO Mikhail Khodorkovsky was sentenced to a nine-year prison sentence in a highly politicized trial, the battered oil major announced an $11.5 billion lawsuit aimed against a raft of organizations linked to the government.
Yukos said it had filed suit last week in the Moscow Arbitration Court against the Finance Ministry, the Federal Property Fund, Rosneft, Gazprom and others for what it claimed was the expropriation of its main production subsidiary, Yuganskneftegaz.
Among the companies listed was Baikal Finance Group, the shadowy firm that bought Yugansk at a government auction in December. Rosneft later bought Baikal to take control of Yugansk.
"We are resolved to use every appropriate court to fight our case," Yukos CEO Steven Theede said in a statement posted on the company's web site.
Yukos is demanding that the December auction, which saw shares of Yugansk sold to Baikal at a price below its value, be ruled illegal. In addition, the oil firm is seeking more than 324 billion rubles ($11.5 billion) in damages.
The court has set a preliminary hearing for June 16, Interfax reported.
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