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Creditor banks notify YUKOS about default

Russia

The consortium of creditor banks consisting of Societe Generale, Citigroup, Commerzbank, Credit Lyonnais, Deutsche Bank, HSBC and ING, which are organizers of a syndicated loan totaling $1bn, have given default notified to YUKOS. Now these banks have the right to immediate payment of YUKOS' debit, representatives of YUKOS reported. Previously, another consortium notified YUKOS about a possible $1.6bn default.

As reported earlier, last week, the court obliged YUKOS to pay RUR99bn ($3.4bn) in debts to the Russian Tax Ministry, after which the Tax Ministry claimed RUR 98bn (about $3.37) more.

© &to=http://www.rbcnews.com' target=_blank>RBC

&to=http://www.yukos.com' target=_blank>YUKOS

Early reports by "PRAVDA.Ru":

&to=http://english.pravda.ru/main/18/88/351/13128_YUKOS.html' target=_blank>On YUKOS"s "transparency" and liberalism in Russia

&to=http://english.pravda.ru/mailbox/ 22/99/391/11041_elections.html' target=_blank>The Kremlin-Yukos Cul-de-sac

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