Russian oil giant bankrupted

[bemildred]

Yukos, once Russia's biggest privately-owned oil company, is set to be declared bankrupt and its assets liquidated.

Creditors of the former oil giant voted on Tuesday to ask a court to declare the company bankrupt and appoint a supervisor to sell its assets.

The court will consider the request on August 1.

Bankruptcy supervisor Eduard Rebgun told a creditors' meeting that Yukos' liabilities exceed its assets by about 14 billion roubles ($530 million). He valued the company's assets at about 477 billion roubles (US$18 million).

Al Jazeera

[msongs]

1. Putin and Dick Cheney are gonna split the proceeds equally nt

[Tellurian]

2. Nah! Cheney out! Chavez IN! n/t

[madrchsod]

3. putin and friends are in control of the oil fields

their biggest problem right now is finding investors and engineers to rebuild the russian oil fields. they do not want us based oil companies to bid on field development but they may be forced to...

[Gully Foyle]

4. Um

I thought the Norwegians were closing the oil deal?

[BrotherBuzz]

5. That deal was natural gas.

[AngryAmish]

6. How do you go bankrupt when oil prices are the highest ever?

This stinks. This might be the largest theft of all time. But then again, they stole big time when it was privatized...