A Collaboration with the University of Pittsburgh

Yukos asks US court to reconsider bankruptcy dismissal

[JURIST] Struggling Russian oil company Yukos [corporate website] has asked that a US court reconsider its bid for bankruptcy protection. Yukos sought a new trial late Friday after Judge Leticia Clark Thursday dismissed [JURIST report] the company's initial bid to declare bankruptcy. The retrial motion relies on a section of the bankruptcy code that is governed by a standard of what is in the best interest of the estate. Attorneys for Yukos urge that dismissal of the case is not in the best interest of the estate and asked for a stay of the dismissal "while it pursues its post-judgment remedies." Yukos provides additional materials on its bankruptcy petition on a special website. AFP has more.

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.