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Yukos Refinery Must Pay Out $359 Mln
Now the figure has surged almost in ten times due to penalties and fines for nonpayment.
The Moscow Arbitration Court demanded from a key refinery of Yukos, Angarsk Petrochemical Company to pay out 9.94 billion rubles ($359 million) to Liechtenstein?s New Century Securities for an overdue loan, the Court said on Tuesday.
Angarsk Petrochemical reportedly borrowed $58 million from New Century Securities in 1996. Now the figure has surged almost in ten times due to penalties and fines for nonpayment.
?The plaintiff did not provide evidence in this case,? the agency cited a representative of Angarsk Petrochemical Co. ?Moreover, Angarsk Petrochemical Co. is not legally bound by the loan, and in this connection asked that the court overturn the plaintiff?s suit.?
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