YUKOS Files for U.S. Bankruptcy

[NashVegas]

By Dmitry Zhdannikov

MOSCOW (Reuters) - Russian oil major YUKOS said on Wednesday it had filed for bankruptcy protection in a U.S. court and would seek an order from the court to halt the Dec. 19 sale by the Russian state of its main oil unit.

YUKOS said it wanted the court to force Russia to arbitrate the company's claims for billions of dollars in damages it says were inflicted by "an unprecedented campaign of illegal, discriminatory and disproportionate" tax demands.

http://reuters.com/newsArticle.jhtml;jsessionid=RR5KWC4ZOOMOECRBAE0CFEY?type=businessNews&storyID=7099423

[NVMojo]

1. of course, this plays well into the master plan for the Bush admin

[UL_Approved]

2. It gets deeper and deeper

How high's the water, mamma?

Three feet high and risin'.

A little nationalization of assets? I guess that the Russians want some oil these days.

[makhno]

3. It makes sense

After all, we all know that America's law is God's law:

YUKOS said U.S. bankruptcy law had worldwide jurisdiction in its case, as it has major business dealings in Texas and its chief financial operator, Bruce Misamore, was now based there.

Silly Russians think they can reclaim some of that natural wealth stolen from them in the '90s.

[donkeyotay]

4. This should be a big story, but it's not

The balls on these corporations. They're driving the last stake through our sovereignty. How could a Russian company use our court system to push its claims?

Are we now to go to war with Russia if our courts disagree with the Russian government's opinions? Will we use our military to back up our justice system to protect a multinational corporation based on Russian assets? Sure, they're in bed with Texass oil. That's Texass oil's problem. Same deal in China. You do business there at your own risk.

Nuts.