US service company requesting $17m from YUKOS

On July 20, the southern county court of Texas ruled for a temporary and partial seizure of assets received by Russian oil company YUKOS from supplying its oil to the USA recently. This court decision was made in accordance with a suit filed by the Dardana service company, requesting YUKOS to pay off its old debt of $17m. On July 25, the court is supposed to make a final decision concerning the money dispute of the two companies. Everyone seemed to be happy, when the first tanker with Russian oil came to the US port in Houston on July 3. But right after that the Houston company Dardana filed a suit against YUKOS. It claims its right for a part of the supplied oil for $17m as a repayment of a debt from 1997. In 1995, YUKOS' subsidiary Yuganskneftegaz struck a deal with PetroAlliance. The latter assigned its debt claims to Dardana. This contact led to a series of suits. A decision of the Swedish arbitration commission that demanded payment of $6m on a contract remains the main one at present. This amount of money wasn't paid since then and grew due to interest rates and fines over the years and came to $17m, which Dardana is expecting to receive now. The case will be discussed in the southern county court of Texas on July 25, the Izvestia newspaper wrote.


&to=' target=_blank>YUKOS