Yukos: The end of an era
I know this news doesn’t relate to the US scene but I have been following the Yukos story for quite a few years and it is only fair that we give this once huge oil company its due by letting it have its final run in the sun. The company’s creditors recently voted for the stricken Russian oil firm to be declared bankrupt and rejected a plan proposed by its owners to prevent its demise. Reuters.com reports:
"It’s deader than a doornail. There’s going to be nothing left. It’s going to be sold in pieces," said Eric Kraus, a fund manager at Moscow-based Nikitsky Russia Fund.
Read more: YUKOS close to death as creditors choose bankruptcy