A lawsuit seeking class action status has been filed in the united states district court for the southern district of new york on behalf of all persons who purchased the publicly traded. Yukos inhouse accountants and with designing and implementing. Business in russia after yukos business the economist. Yukos oil company notice of distribution pr newswire. Bbc news business liquidation of yukos is completed. The european court of human rights has given judgment on the merits of the largest commercial dispute ever litigated. Oao yukos oil company, a joint stock company incorporated in. Oao nk yukos is the second largest of russia s integrated oil companies, with an estimated 11.
Yukos 1 students name professor name course date case. I will give the details, but in summary, the funds are coming via bank menatep. See who you know at yukos, leverage your professional network, and get hired. What should yukos to eliminate their governance discount. Russia are several international court and arbitral cases seeking compensation from the government of russia to the former shareholders of yukos based on the claim that russian courts were not acting in good faith in launching tax evasion criminal proceedings against yukos, which led to the bankruptcy of the company. Samaraneftegaz was a whollyowned yukos oil subsidiary from 2001 until 2007.
Oao yukos oil company case harvard business school. You can be sure of high quality, reliability and professionalism of yuko motor oil. Yukos was acquired from the russian government by russian oligarch mikhail khodorkovskys bank menatep during the controversial loans for shares auctions of the mid 1990s. Yukos oil company scammers often use the names of legitimate banks, companies, governmental agencies and other organizations to make their claims seem legitimate.
Update 2men who brought fracking to russia quit ruspetro. The russian government under president vladimir putin in 2003 leveled massive tax claims against yukos, then russias largest oil company. A case study of success and failure in an unstable institutional environment article pdf available in journal of change management 103 september 2010 with 1,281. Design of the plant takes into account strict environmental safety requirements for such facilities in the european union.
Rosinvestco, an investment company incorporated under english law and based in london, england, purchased a total of seven million ordinary shares of oao nk yukos oil company ojsc yukos, a russian oil company then traded on the moscow and other stock exchanges, on two occasions on 17 november nd 1 december of2004. This case study describes the process of organisational transformation in yukos. Oil giant yukos consigned to history rt business news. The final move in the firms history, it comes four years after its founder and former owner mikhail khodorkovsky was arrested on tax evasion charges. The oil company s management covered up the fact that. Yukos financial statements starting 1995 as unreliable, and they did not provide this information to government regulatory authorities, in particular, to the tax authorities. The risks faced by corporate investors in russia in the late 1990s included the mass privatization problems and loans for shares. None of these proposals was accepted by the russian federation, which moved to auction off yng in december 2004 in spite of yukos protests. This case presents the history and current position of russias secondlargest oil company, yukos, as it seeks listing on the nyse as an adr and attempts to rid itself from a punishing governance discount by the capital markets. The company had become the secondlargest taxpayer in russia after the state gas monolith gazprom, contributing 4. Yukos finance, the dutchbased holding company of yukos foreign assets, and the receivables of the former oil major are gone with only formalities left before yuk the final auctions in the long carveup of yukos, once russias largest oil producer, ended with almost no surprises. The notorious yukos oil company case, which has been ongoing. This is a company with a history of significant corporate governance abuses that is, more recently, attempting to reform its ways.
Yukos investors settle with rosneft, russias state oil. Powerdrive oil and gas company llc in las vegas nv. To facilitate understanding, the data display in table 4. Yukos is a leading russian vertically integrated oil company. The structure of stock ownership and trends in the change of thi s structure.
In april 2003, khodorkovsky announced that yukos would merge with sibneft, creating an oil company with reserves equal to those of western petroleum multinationals. A simple entry on russias state companies register on thursday marked the company s liquidation. Defendant yukos is a joint stock company organized under the laws of the russian federation. Yukos investors settle with rosneft, russias state oil company a rosneft oil treatment plant. Apr 02, 2015 yukos investors settle with rosneft, russias state oil company a rosneft oil treatment plant. Yukos investors settle with rosneft, russias state oil company. At of november 1995 state committee on state property management has approved the privatization plan of jsc yukos oil company. Joint stock company nk yukos in the charter capital of the open joint stock company angarsk institute for design of oil refinery and petrochemical. It absorbed most of yukoss valuable assets after the yukos founder was arrested in 2003. Synthetic engine oil designed for modern diesel engines. The yukos case is one of many, but it is remarkable in its scope and broad media coverage and public resonance. A simple entry on russias state companies register on thursday marked the companys liquidation. Whats really happening with the yukos case foreign policy. General position and the role khodorkovski and lebedev, who ran.
Yukos is a leading russian verticallyintegrated oil company. Blog judi online yang mengupas tuntas dimana dan bagaimana cara nya mendapatkan uang dengan hasil yang sangat instan dengan cara yang sangat benar gampang. Industrial oil production plant of jv yukoil, which produces yuko lubricants, is one of the most modern blending enterprises in eastern europe. Between 1996 and 2003 yukos became one of the biggest and most. What type of risks did corporate investors face in russia in the late 1990s. After 1998, he thus expanded his own philanthropic activities, and also yukoss corporate social responsibility programmes. This case presents the background and current situation of russias secondlargest oil business, yukos, as it sought to be listed in new yorks stock market, the nyse in form of an adr and efforts to rid itself from a punishing governance discount by the capital markets. Prime minister mikhail kasyanov on thursday said the probe into russias largest oil company, yukos, is hurting russias image abroad and scaring.
That has the kremlin apoplectic and threatening reprisals. Nov 22, 2007 yukos, once russias biggest oil company, has now ceased to exist. The yukos money laundering case university of michigan law. Jun 19, 2015 the yukos arbitration decision in a nutshell. Jul 28, 2014 the russian government under president vladimir putin in 2003 leveled massive tax claims against yukos, then russias largest oil company owned by the countrys richest man mikhail khodorkovsky. In the second half of 2004, yukos made several proposals to the russian authorities for the settlement of its tax debts.
Russia plays hardball, and markets take note following a recent spat with belarus, other nations may fear the strong stance of the worlds secondlargest oil exporter. Yukos oil company business essays essay sauce free. Here is a short summary of the most important points of the yukos arbitration award which former shareholders are now trying to enforce in belgium, france and other european countries. Khodorkovsky had been reported to be involved in negotiations with exxonmobil and chevrontexaco to sell one or the other of them a large stake in yukos. Court finds breaches of rights of former yukos executives. European court of human rights finds for yukos oil company. Indeed, yukos became russias leader in the field, with a particular focus on supporting schools, hospitals, and libraries in communities where the company operated. The companies original dispute arose from a july 2004 loan agreement. Neither was this information disclosed to the oao nk yukos auditor, pricewaterhousecoopers. The net proceeds of the liquidation, less any reserves for expenses, will be deposited into the distribution fund. With holdings in numerous sectors of the oil industry, the company accounts for 15 percent of oil produced and 15 percent of. Russian company filed petition for chapter 11 relief, and creditor moved to dismiss on various grounds.
Russia are several international court and arbitral cases seeking compensation from the government of russia to the former shareholders of yukos based on the claim that russian courts were not acting in good faith in launching tax evasion criminal proceedings against yukos, which led to the bankruptcy of the company the yukos oil companys former shareholders and. Yukos, once russias biggest oil company, has now ceased to exist. Yukos 1 students name professor name course date case study. Pdf taxation and expropriation the destruction of the. Russia plays hardball, and markets take note cnn business. Yukos oil columbia business school columbia university. Lebedev, former senior executives at the yukos oil company, faced fresh criminal charges in 2009. Russia loses case over mikhail khodorkovsky yukos oil assets.
Yukos capital wins against russias samaraneftegaz in us. Yukos was acquired from the russian government by russian oligarch. Jun 26, 2007 yukos financial statements starting 1995 as unreliable, and they did not provide this information to government regulatory authorities, in particular, to the tax authorities. Russia wins legal victory over yukos damages financial times. This site contains a large collection of fraud and bogus emails that attempt to scam the recipient into sending money for nonexistent fortunes, inheritances, cases of money, business. Yukos oil company, formerly the largest and most successful russian oil company, challenged the imposition and enforcement of additional tax liabilities for four years 20003 together with fines and penalty interest amounting to 19.
The mass privatization problem resulted from the move where a vast majority of russias. Synthetic diesel 10w40 is a synthetic engine oil designed for diesel engines of linehaul trucks operating at high loads. Ojsc yukos oil company was an oil and gas company based in moscow, russia. The oil companys management covered up the fact that.457 781 1549 1079 161 203 1094 1498 1532 243 1337 294 99 883 873 573 383 111 737 334 268 1177 697 1043 430 537 198 432 157 971 1008 1405 1478 407 1065 1221 1329 374 971 264 922