Yukos seeks US court action against subsidiary purchaser News
Yukos seeks US court action against subsidiary purchaser

[JURIST] Troubled Russian oil firm Yukos will seek a ruling by a US court Wednesday against Baikal Finance Group, which purchased Yukos' primary subsidiary in a Sunday auction. Yukos said it would seek $20 billion in damages from those involved in the auction and to have Baikal's assets frozen, after the Russian government sold the Yuganskneftegas production unit against a US court order last week. Read the company's press release. Since the sale, many in the industry questioned the relative unknown Baikal's motives in purchasing the company, with some alleging that the company was a front for other oil producing companies. Some Russian newspapers have linked the company to Surgutneftegas, the fourth largest oil producer in Russia. State oil firm Gazprom announced Tuesday that it sold its holding company that took part in the Yukos auction to avoid penalties for ignoring the US court order. JURIST's Paper Chase has continuing coverage of the Yukos case. BBC News has more.

THIS DAY @ LAW

Indian National Congress founded

The Indian National Congress (INC) was founded on December 28, 1885 in Bombay (now Mumbai), India. In subsequent decades, the so-called Congress Party would advocate for Indian independence from the UK, which was eventually achieved in 1947. The first Prime Minister of independent India, Jawaharlal Nehru, was elected as a member of the INC. Learn more about the history and founding of the Indian National Congress.

Congress recognized Pledge of Allegiance

On December 28, 1945, Congress officially recognized the Pledge of Allegiance and encouraged its recitation in schools. The Pledge was supposedly written in 1892 by Francis Bellamy, a Baptist minister, to celebrate the 400th anniversary of Columbus Day. The words “under God” were added by Congress in 1954. The revised version of the Pledge was the subject of litigation before the United States Supreme Court originally brought by Michael Newdow, a parent who unsuccessfully objected to his daughter's school district policy requiring daily recitation of the Pledge. The court ruled that Newdow had no standing.

Nepal ends monarchy, establishes republic

On December 28, 2007, the Kingdom of Nepal's interim parliament ended the country's monarchy and established the Republic of Nepal. Free elections were held on April 10 of the following year to elect a Constituent Assembly.

Learn more about the rise of democracy in Nepal.