HOUSTON, Dec. 20 2004 – LAWFUEL – First with law news – Yukos Oil Company today issued a notice to all persons and entities who participated in the auction on Sunday,
December 19, 2004 of the Stock of Yuganskneftegas to Baikal Finance Group, or
who may participate in the consummation of the sale or purchase of that Stock,
or the financing of that transaction, or in other actions that interfere with
property of Yukos’ Chapter 11 bankruptcy estate, that the Stock is property of
Yukos’ Chapter 11 estate and the Auction was a violation of the automatic stay
which became immediately effective when Yukos filed bankruptcy.
If the sale of the Stock is completed, it will damage Yukos in excess of
$20 billion and the Company will pursue damages against all third parties who
participate in the sale, the financing of the sale, and any transaction
relating to the value of the Stock.
A copy of the notice that Yukos filed with the Bankruptcy Court is
available at http://www.yukosbankruptcy.com .
Forward-looking statements. Some of the information in this press release
may contain projections or other forward-looking statements regarding future
events or the future financial performance of YUKOS. We caution you that
these statements are not guarantees of future performance and involve risks,
uncertainties, and assumptions that we cannot predict with certainty.
Accordingly, our actual outcomes and results may differ materially from what
we have expressed or forecasted in the forward-looking statements. We do not
intend to update these statements to make them conform with actual results.
Web Site: http://www.yukosbankruptcy.com