Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Yukos Unit Questions Sale of Assets

The Dutch unit of Yukos warned on Tuesday that Dutch law might not recognize the sale of Yukos' foreign assets, but its Moscow's receiver said he would go ahead with the sale next month.

Yukos receiver Eduard Rebgun plans to sell on Aug. 15 Yukos Finance U.K., which owns Yukos' 49 percent stake in Slovak pipeline monopoly Transpetrol and controls over $1.5 billion in cash held by its subsidiary, Yukos International U.K.

"A bankruptcy treaty between the Netherlands and Russia is absent. Therefore, pursuant to Dutch law you cannot provide legal title to the Yukos Finance U.K. shares to a buyer at all," Yukos Finance U.K. said in a letter.

Yukos' former shareholders filed a number of suits with Dutch courts and the European Court of Human Rights claiming that the firm's bankruptcy had been illegal. The next hearing by the District Court of Amsterdam is scheduled for Oct. 31 and the letter said no sales could take place before then.