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. Last Updated: 07/27/2016

Rebgun Wins Yukos Dutch Case

Yukos receiver Eduard Rebgun won a Dutch court case that positions him to claim the bankrupt firm's remaining foreign assets, his spokesman said Friday.

The Amsterdam Court of Appeals on Thursday upheld a previous ruling that recognized Rebgun as the representative of Yukos' Dutch affiliate Yukos Finance, spokesman Nikolai Lashkevich said in a statement.

But the court did not decide on the legitimacy of the bankruptcy and ruled that it did not include Yukos' Dutch assets, Yukos Finance said in a statement.

The victory allows Rebgun to seek permission in a Dutch court to appraise and sell Yukos Finance, a transaction that could raise at least $1.1 billion, Lashkevich said. Yukos Finance managers said they would appeal that ruling.

Yukos Finance is key to controlling about $1 billion from the sale of Lithuania's Mazeikiu refinery, now in a Dutch bank account, and a 49 percent stake in Slovak oil pipeline operator Transpetrol, worth $100 million to $200 million.

Another Dutch court will rule on the Yukos bankruptcy and Rebgun's claim to the assets in a separate case slated to begin next month, Claire Davidson, a spokeswoman for Yukos Finance, said by telephone Sunday.

Yukos Finance moved the stakes in the refinery and pipeline operator in 2005 to its unit Yukos International U.K., which then transferred its shares to a fund called Stichting Administratiekantoor Yukos International in exchange for certificates.