Author`s name Pravda.Ru

YUKOS challenges freezing of assets in Arbitration Court

The oil company YUKOS has challenged in the Moscow Arbitration Court a decision to freeze its assets, according to a Rosbalt correspondent.

The freezing of the company's assets was undertaken as a guarantee measure in the context of a claim by the Russian Tax Ministry for the payment of 99.375 billion rubles in back taxes, fines and penalties. The Moscow Arbitration Court has forbidden the company from selling or disposing (including the transfer of stock to nominal holders or to asset management) of any of its property or capital, except for basic production, pending a verdict of the tax claim.

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