Yukos asks US court to reconsider bankruptcy dismissal

[JURIST] Struggling Russian oil company Yukos [corporate website] has asked that a US court reconsider its bid for bankruptcy protection. Yukos sought a new trial late Friday after Judge Leticia Clark Thursday dismissed [JURIST report] the company's initial bid to declare bankruptcy. The retrial motion relies on a section of the bankruptcy code that is governed by a standard of what is in the best interest of the estate. Attorneys for Yukos urge that dismissal of the case is not in the best interest of the estate and asked for a stay of the dismissal "while it pursues its post-judgment remedies." Yukos provides additional materials on its bankruptcy petition on a special website. AFP has more.

 

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