In a statement released last Friday, beleaguered Russian oil firm, Yukos announced plans to sue the four Russian energy groups which participated in the sale of its Yuganskneftgaz production unit late last year.
The firm announced that it is seeking "in excess of $20 billion" from Gazprom, Gazpromneft, Baikalfinansgroup and Rosneft. In addition to this, Yukos' main shareholder, Gibraltar-based Group Menatap announced last Wednesday that it has filed a $28.3 billion claim against the Russian government for dismantling the firm and going ahead with the Yugansk sale in contravention of the Chapter 11 protections afforded to Yukos.
The oil giant went on to reveal that it has filed a reorganization plan with the Southern District of Texas' Bankruptcy Court, and that it has asked Judge Letitia Clark to set a May 1 deadline for claims against it.
Meanwhile, a two day hearing is scheduled to be held on Wednesday to decide whether the US court has jurisdiction in the dispute.
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