Source Pravda.Ru

Creditor banks notify YUKOS about default

Russia

The consortium of creditor banks consisting of Societe Generale, Citigroup, Commerzbank, Credit Lyonnais, Deutsche Bank, HSBC and ING, which are organizers of a syndicated loan totaling $1bn, have given default notified to YUKOS. Now these banks have the right to immediate payment of YUKOS' debit, representatives of YUKOS reported. Previously, another consortium notified YUKOS about a possible $1.6bn default.

As reported earlier, last week, the court obliged YUKOS to pay RUR99bn ($3.4bn) in debts to the Russian Tax Ministry, after which the Tax Ministry claimed RUR 98bn (about $3.37) more.

© &to=http://www.rbcnews.com' target=_blank>RBC

&to=http://www.yukos.com' target=_blank>YUKOS

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