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BREAKING NEWS ~ Russia auctions Yukos production arm, defying US bankruptcy order

[JURIST] AP is reporting that the Russian government Sunday auctioned the core production unit of oil giant Yukos to Russian group Baikalfinansgroup for $9.3 billion in defiance of a US bankruptcy court injunction issued Thursday and upheld on appeal from potential Russian auction bidder Gazprom late Saturday. AP has more on the Saturday appeal here.

10:38 AM ET - From Russia, MosNews.com now has more on the auction sale in English.

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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