Judge plans Jan. 13 scheduling conference for Yukos

Washington, Jan. 7 - Judge Letitia Clark plans to hold a scheduling conference on Jan. 13 to set up a hearing on whether Yukos Oil Co.'s Chapter 11 status should be dismissed.

The conference will address Deutsche Bank's request and any others to dismiss the Russian oil company's status.

Deutsche Bank is a creditor.

The Russian government auctioned Yukos' Yuganskneftegas unit to repay alleged back taxes on Dec. 19. Yuganskneftegas accounted for more than 60% of Yukos' oil and gas production. But, even though the company was valued at more than $20 billion it sold for less than $10 billion to an entity acquired by the state-controlled Gazprom.

Deutsche Bank alleges Yukos is not an American company and has no right to Chapter 11 status since it has no real operations on American soil and its sole employee in the United States is Bruce Misamore, Yukos' chief financial officer, and he only moved back to Houston in December.

Yukos alleges that if the Russian government proceeds, institutional investors, many of them Americans, will lose their investment in Yukos.

If Yukos retains its Chapter 11 status, Deutsche Bank would not be able to proceed with any financing for the acquisition.

Yukos filed for bankruptcy on Dec. 14. Its Chapter 11 case number is 04-47742.

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