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144:. In 2003, the Russian tax authorities charged Yukos and Khodorkovsky with large-scale tax evasion. On April 14, 2004, Yukos was presented with a bill for over US $ 35 bn in back taxes and a demand to pay the entire bill the same day. Requests by Yukos to defer payment, allow payment by instalments or to discharge the debt by sale of peripheral assets, including its shareholding in the
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announcing that
Yuganskneftegaz would be sold at an auctioned scheduled to be held 30 days later on December 19, 2004. The conditions for participation in the auction included an advance deposit of US $ 1.7 bn and prior clearance by the Russian
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in a building that houses a vodka bar, a mobile-phone shop, a tour operator agency and the offices of several small local companies, but no office of
Baikalfinansgrup. Baikalfinansgrup later moved its legal address to the head office of
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Four days later
Baikalfinansgrup was acquired by Rosneft. Rosneft later disclosed in its annual financial statement that it had financed the acquisition of Yuganskneftegaz. At the time, Rosneft president
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oil company, were also refused. Since Yukos was both legally and physically unable to pay the entire amount in cash on such short notice, Russian bailiffs froze Yukos’ shares in
Yuganskneftegaz.
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admitted that he knew the owners of
Baikalfinansgrup. Putin did not disclose their names, but noted that they were individuals with "many years of experience in the energy business".
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Shortly after the auction, the planned merger between
Gazprom and Rosneft merger was called off, and Sergey Bogdanchikov resigned his post as CEO of Gazpromneft.
282:"Российский фонд федерального имущества (далее - Продавец) извещает о проведении торгов по продаже арестованных акций ОАО "Юганскнефтегаз" — Российская Газета"
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82:(US$ 9.3 bn), which was somewhere between 37% and 49% of Yuganskneftegaz’ market value at the time, according to an appraisal made by
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from participating in the auction. On the next day, December 16, a group of
Western banks withdrew their financial support for the
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Baikalfinansgrup was created on
December 6, 2004, just two weeks before the Yuganskneftegaz auction, with a share capital of 10,000
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application. On the same day, the previously unknown
Baikalfinansgrup applied to participate in the auction.
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declined to place any offer, thus allowing
Baikalfinansgrup to acquire Yuganskneftegaz on its first bid.
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Despite its obscurity, Baikalfinansgrup was able to secure a credit of US$ 1.7 bn from the state-owned
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70:. It is best known as the company that won the December 19, 2004 auction for a 76.79% share in
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submitted an application to participate in the auction through its wholly owned subsidiary,
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On November 19, 2004, Russian bailiffs placed a notice in the Russian government newspaper
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On February 7, 2006, in response to a question by a Spanish journalist, Russian President
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101:(US$ 358). Its original registered address was in the north-western Russian city of
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had been created in September 2004 in preparation for a planned merger between
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disclosed that Rosneft had used Baikalfinansgrup as a vehicle to acquire
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On December 19, 2004, only two companies appeared for the auction:
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On December 15, 2004, Yukos filed for a bankruptcy protection in a
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savings bank as a down-payment for participating in the auction.
318:"Bogdanchikov Appointed Head of Gazpromneft - Kommersant Moscow"
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78:. Baikalfinansgrup won the auction with a bid of 261 billion
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In early December, the Russian state-controlled gas monopoly
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http://www.rosneft.com/english/company/GAAP2004_english.pdf
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court, and obtained a temporary injunction prohibiting
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Yuganskneftegaz was the core production subsidiary of
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in order to protect itself against litigation risks.
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255:"Russia to hold Yukos auction despite U.S. Ruling"
140:, which was previously run by Russian businessman
66:) is a Russian limited liability company owned by
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124:On December 21, 2004, Russian president
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324:from the original on 2014-10-30
288:from the original on 2014-10-30
84:Dresdner Kleinwort Wasserstein
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160:Federal Antimonopoly Service
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431:Companies based in Moscow
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25:Limited liability company
88:JPMorgan Chase & Co.
426:Oil companies of Russia
207:and Baikalfinansgrup.
132:Yuganskneftegaz auction
219:was also the CEO of
142:Mikhail Khodorkovsky
217:Sergey Bogdanchikov
108:Rosneft Oil Company
68:Rosneft Oil Company
49:Rosneft Oil Company
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343:"Президент России"
263:. 17 December 2004
154:Rossiyskaya gazeta
353:on 17 August 2009
138:Yukos Oil Company
76:Yukos Oil Company
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181:and state-owned
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64:Байкалфинансгруп
56:Baikalfinansgrup
41:December 6, 2004
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17:Baikalfinansgrup
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370:External links
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376:Rosneft site
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351:the original
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22:Company type
221:Gazpromneft
209:Gazpromneft
205:Gazpromneft
175:Gazpromneft
171:Gazpromneft
420:Categories
357:14 January
328:2014-10-30
292:2014-10-30
267:2006-04-28
241:References
378:(English)
46:Successor
33:Petroleum
322:Archived
286:Archived
260:NBC News
119:Sberbank
30:Industry
441:Rosneft
384:Portals
198:Gazprom
194:Gazprom
190:Houston
183:Rosneft
179:Gazprom
167:Gazprom
146:Sibneft
112:Kremlin
93:Profile
60:Russian
38:Founded
410:Energy
398:Russia
99:rubles
80:rubles
436:Yukos
359:2022
103:Tver
86:and
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