Posted on 08/04/2006 2:01:49 PM PDT by sergey1973
A court decision declaring Yukos -- once Russia’s largest oil company -- bankrupt has finally brought to an end the sad story of confrontation between private business and a powerful state. But the ruling also highlighted the unhealthy nature of the country’s raw-materials-based socio-economic system.
On August 1, the Moscow Arbitration Court ordered the bankruptcy and liquidation of Yukos, a decision that various commentators gloomily described as either a “death sentence” for the company or as its “funeral.” As was widely expected, the court upheld a vote one week earlier by Yukos’s creditors. The latter, led by Russia’s Federal Tax Service and the state-run company Rosneft, rejected the Yukos management’s restructuring plans and instead voted to break up the fallen giant and auction off the pieces. The court’s judge appointed a liquidation manager who is to oversee the sell-off of Yukos’s remaining assets within one year.
(Excerpt) Read more at jamestown.org ...
Just like marx taught.
Interesting; bump!
Thanks. I stepped out for 4 hours of work at the part time job. Just finished a steak off the grill and a beer (so it's after midnight...I'm rewarding myself for my hard work!). You are a very talented writer and a logical thinker. All 3 are very, very good.
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