Yukos takes bankruptcy case to new court

Yukos takes bankruptcy case to new court

[JURIST] The Russian oil company Yukos [corporate website] has taken its recently-dismissed bankruptcy case to US District Court in a bid to hold off creditors long enough for it to appeal. US District Judge Nancy Atlas said Wednesday she would rule on Yukos' case by March 18. The original bankruptcy petition was rejected [memorandum opinion, PDF] last month by a US bankruptcy court in Texas at the instance of a bank consortium that argued that the court had no jurisdiction in the matter. Yukos claimed bankruptcy protection in the US late last year in a last-ditch bid to prevent the Russian government from auctioning off its main oil production arm. The auction went ahead anyway, and the assets were eventually acquired by a company associated with the Russian gas monopoly Gazprom. AP has more.