Yordan will protect Yukos from the Kremlin

The President of the Sputnik investment fund Boris Yordan turned to the Yukos NK with a proposal to act as an intermediary in negotiations with the Kremlin, since both the authorities and the oil company are interested in this.

In his letter, Yordan claims that the current management, "appointed by the main shareholders of the company, continues to represent their interests, which seriously diverge from the interests of the entire company and other shareholders." He proposes to "entrust the satellite group" to begin immediate negotiations on behalf of all minority sorts of resolution of the conflict that threatens Yukos with bankruptcy. "

Investors enthusiastically reacted to the initiative of Yordan to save Yukos from the Kremlin. “The need for the appearance of an intermediary in the Yukos case is obvious to everyone,” says the head of the analytical department of Aton, Stephen Dashevsky. “And it seems to me that Yordan is an ideal candidate, because he already has the experience of resolving such situations and will be able to take into account the interests of all parties.”

And the partner of the law firm Marks & Sokolov Sergey Sokolov, whose customers are minority of Yukos, says that they would like to get acquainted with the Yordan plan in more detail, write Vedomosti.

According to Yordan, the agreement with the authorities should be based on the following principles: Yukos is a working concern and it should not be damaged; Yukos can pay creditors completely according to a reasonable schedule of payments; Yukos should and can pay taxes completely if they are legally calculated; minority shareholders must be presented in the Council of Directors; The possibility of changing the management of the company should be considered.

The head of the “satellite” noted that he “discussed the possibility of solving the“ Yukos case ”with the Russian authorities, and I was assured at the government level that there was a strong interest in the economically rational and fair resolution of this conflict ... The government actually searches for a guessing side in negotiations.”

However, the press secretary of the “satellite” Oleg Sapozhnikov said later “Interfax” that “the group’s proposal with any of the official representatives of the authorities has not yet been discussed. We proceed from the public statements of senior officials that the authorities are not interested in the bankruptcy of Yukos.”

Yordan, meanwhile, reminded Yukos’s minority sorts of his experience in such negotiations: “Sputnik group decided the two most famous corporate conflicts: the restoration of Sidanko, which threatened bankruptcy, and the complete financial and managerial restructuring of NTV and Gazprom Media.

Meanwhile, Yukos refuses intermediaries in negotiations only if the government does not want it. “We have a clear plan of leaving the situation that is able to satisfy the interests of both the government and investors,” Yuri Baylin told Vedomosti, the deputy rule of the company. According to him, Boris Yordan did not turn to Yukos and managers learned about his letter from friends. Bailin himself is sure that Yukos is able to pay for taxes if he is given an installment plan and removed the arrest from the assets.

Yukos, in addition to the judicial problems of the largest shareholders of the company, has difficulties with the Ministry of Taxes and Duties. The Moscow Arbitration Court decided to recover an additional income tax from the Yukos in the amount of $ 3.4 billion. The company's management has stated in this regard that it considers it possible to occur a state of bankruptcy before the end of 2004, since as a result of the previous trial for the sale of any property, Yukos cannot implement assets to attract liquid funds.

The company's shareholders also consider the possibility of personnel permutations in higher management. We are talking about the removal of Cukess seeds from the posts of the Chairman of the Board of Directors of the Company and the Chairman of the Board. The ex-head of the Central Bank, Viktor Gerashchenko, can head the board of directors of the company, and the board is the head of Yukos-Moscow Stephen Tidi. The latter, however, has not yet received an official offer from the company's management and said that this proposal would hardly accept.