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Yukos Shareholders Go To Law Against Yukos

Yukos key shareholders and creditor banks filed a lawsuit Friday in a $1.1 billion against Yukos

Yukos key shareholders and creditor banks filed a lawsuit Friday in a $1.1 billion against Yukos in order to get some cash out before its expected collapse.

Group Menatep, the main Yukos shareholder, is to claim $650 million from Yukos through its subsidiary Moravel.

Moravel filed its suit together with a claim from a syndicate of more than 10 western banks, led by Societe Generale and including Deutsche Bank AG, Citigroup and ING NV. ?We have the same position as the banks. Both have a claim against Yukos Oil,? said Moravel?s lawyer Allard Huizing.

The banks are chasing about $480 million outstanding from $1 billion loaned to Yukos in 2003.