According to Viktor Gerashchenko, the recent search in his office might have been triggered by rigid statements he made about the authorities of Russia.
Photo: Dmitry Chebotaev
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Prosecutors Drop In On Gerashchenko
Prosecutor General's investigators searched yesterday the office of YUKOS BOD Chairman Viktor Gerashchenko. The formal cause was the criminal case brought in against YUKOS-affiliated YUKOS Capital of Luxembourg. But there were other reasons as well.
Investigators of Prosecutor General Office searched YUKOS headquarters on Dubininskaya St., Moscow, including the offices of Viktor Gerashchenko. They were looking for files and records related to Luxemburg Capital S.A.R.L., Gerashchenko said.
Prosecutors brought in past week a criminal case on count of fraud during YUKOS bankruptcy, where YUKOS Capital is one of suspects. The company granted loans worth $4.5 billion to YUKOS and its firms, prompting investigators to suspect it was the money of YUKOS actually.
In time of bankruptcy, the debt of YUKOS to YUKOS Capital is material for alignment of creditors’ forces, giving around 35 percent of votes to firms affiliated with YUKOS (vs. 5.63 percent today). But the criminal case will cross YUKOS Capital out of the list of claimants for funds generated after the sale of the assets.
Gerashchenko explains the recent search in his office by rigid statements he made about the authorities. YUKOS BOD chairman blamed the bancruptcy on the Kremlin, insisting the company was able to clear the debts without bankruptcy and disposal of all assets.
And last but not least, the search could be a warning to Gerashchenko. “He was always abrupt when speaking about the situation. But now he is to understand that once the bankruptcy decision has been finally made, his statements are inappropriate and it’s time to leave the company,” said a source familiar with the state of affairs.
www.kommersant.com
All the Article in Russian as of Aug. 17, 2006
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