UPDATE ~ US says Yukos sale erodes confidence in Russian legal system News
UPDATE ~ US says Yukos sale erodes confidence in Russian legal system

[JURIST] Updating a story reported earlier today in JURIST's Paper Chase, a US State Department spokesman said Monday that the weekend auction sale of Russian oil giant Yukos' main production arm to satisfy back taxes in the face of a US bankruptcy court order eroded confidence in Russia's business, tax and court system. Richard Boucher said "Conduct of the case has raised serious concerns at the lack of transparency and the independence of Russia's investment and tax laws and the courts", and indicated that American officials would be discussing it with their Russian counterparts. AFP has more. Yukos has said meanwhile that it will "pursue every legal and commercial remedy available to it to recover the corporate value that will be unjustifiably destroyed if the auction of its largest production unit…becomes a completed transaction." Read the Yukos statement here. Yukos has posted the transcript of Saturday's US District Court proceeding upholding the Thursday TRO against sale of any Yukos assets here [PDF].

THIS DAY @ LAW

Pope Urban II sparks First Crusade

Pope Urban II threw his support behind what would become the First Crusade on November 27, 1095 during the Council of Clairmont. The Pope urged the council's participants to render aid to the Byzantine Empire, which was being attacked by the Seljuks. Pope Urban called for a wide coalition of rich and poor to combat the threat, which eventually resulted in the conquest of much of the Muslim-controlled Levant by the Crusaders and the establishment of the Crusader States. Read Pope Urban's address.  

Catholic Code of Canon Law revised

On November 27, 1983, the revised Code of Canon Law of the Roman Catholic Church went into effect. Learn more about the history of Canon Law from Professor Kenneth Pennington of the Catholic University of America's Columbus School of Law.

Alfred Nobel creates Nobel Prize in his will

On November 27, 1895, Alfred Nobel signed his will, creating the Nobel Prize. Learn more about the history of the Nobel Prize and the Nobel Commission.