Yukos Affair Timeline
1993: Incorporation of Yukos Oil Company ("Yukos")
1995-1996: Privatistion of Yukos
2001: Listing of Yukos
Spring 2003: Value of Yukos estimated at USD 70 billion
April 2003: Reporting of first "audit" by tax authorities
Summer 2003: Additional tax assessment imposed/paid
19 September 2003: 1st tax certificate Yukos
23 October 2003: 2nd tax certificate Yukos
17 November 2003: 3rd tax certificate Yukos
08 December 2003: Re-audit announced
29 December 2003: Reporting of second "audit" of tax authorities
14 April 2004: Retrospective tax assessment 2000 (taxes, penalties, penalty interest) at RUB 99 billion
15 April 2004: Freezing order awarded
22 April 2004: Request of Yukos to limit frozen assets to Sibneft shares
23 April 2004: District Court rejects the request to limit the frozen assets to the Sibneft shares
23 April 2004: Complaint filed with the European Court of Human Rights by Yukos
May 2004: Moravel takes over part of the claim of the bank syndicate in connection with the guarantee
17 May 2004: Appeal against tax assessment of 14 April 2004
17 and 18 May 2004: Submission of 70,000 pages of exhibits for hearing of tax claim 2000
18 and 19 May 2004: Yukos is permitted to inspect 100,000 of unorganised pages of exhibits of the tax authorities put in cucumber crates at the Ministry of Taxes
21-26 May 2004: Hearing of tax assessment 2004 in the first instance
28 May 2004: Request Yukos to bailiffs for a payment scheme
01 June 2004: Tax authorities receive the judgment on the tax assessment 2000
02 June 2004: Yukos receives judgment
03 June 2004: Rejection appeal against freezing order of 15 April 2004
18 June 2004: Hearing of appeal regarding tax assessment 2000
29 June 2004: Judgment in appeal on tax assessment 2000
30 June 2004: Payment order tax assessment 2000 (including penalty and penalty interest) at RUB 99 billion. New freezing orders imposed
09 July 2004: Surcharge regarding taxes 2000 at RUB 6.8 billion
14 July 2004: First step sale under execution Yuganskneftegaz (seizure/description of shares)
16 July 2004: Yukos paid RUB 7 billion up to this date
22 July 2004: Public announcement by Yukos about situation and seizure of YNG shares
06 August 2004: District Court awards Yukos’ request to set aside seizure YNG
09 August 2004: Appeal of tax authorities against awarding of request to set aside seizure of YNG
12 August 2004: Appointment of Dresdner Bank by bailiff for assessment YNG shares
13 August 2004: Judgment District Court awarding the request to set aside seizure YNG available
18 August 2004: Hearing appeal seizure YNG shares
23 August 2004: Appeal of tax authorities awarded regarding seizure YNG shares
02 September 2004: Retrospective tax assessment 2001 (taxes, penalties, penalty interest) at RUB 119.9 billion
09 September 2004: Payment order tax assessment 2001 (including penalty) at RUB 79 billion
20 September 2004: Surcharge regarding taxes 2001 at RUB 5.5 billion
23 September 2004: Yukos paid RUB 68 billion up to this date
06 October 2004: Assessment Yu ganskneftegaz by DrKW
27 October 2004: Assessment Yuganskneftegaz by JPMorgan
16 November 2004: Retrospective tax assessment 2002 (taxes, penalties, penalty interest) at RUB 193.8 billion
18 November 2004: Announcement auction Yuganskneftegaz shares. Payment order tax assessment 2002 at RUB 121.8 billion
19 November 2004: Payment order penalty interest 2001 at RUB 39 billion
06 December 2004: Retrospective tax assessment 2003 (taxes, penalties, penalty interest) at RUB 170.4 billion
09 December 2004: Surcharge concerning penalty interest 2001 at RUB 2.7 billion. Surcharge concerning penalty interest 2002 at RUB 8.5 billion. Payment order tax assessment 2003 at RUB 101 billion
19 December 2004: Auction of Yuganskneftegaz
19 April 2005: Restructuring of Yukos Netherlands
20 April 2005: Pre-judgment attachment Moravel of shares in Yukos Finance
13/19 May 2005: Judgment on Commission Agreement District Court Moscow in first instance
30 May 2005: Yukos paid RUB 360 billion up to this date
June 2005: Banks' re-judgment attachment on Yukos Finance shares and subsequent enforceable title
16 September 2005: Pre-judgment attachment Yuganskneftegaz of shares in Yukos Finance
19 September 2005: Judgment on Commission Agreement by Russian Court of Cassation
24 November 2005: Moravel’s attachment of shares in Yukos Finance becomes enforceable
13 December 2005: Sale of claim of bank syndicate to Rosneft
06 March 2006: Start of insolvency proceedings requested by banks
14 March 2006: Transfer of claim of bank syndicate to Rosneft
17 March 2006: Retrospective tax assessment 2004 at RUB 108.4 billion
28 March 2006: Start of insolvency proceedings
19 July 2006: IPO Rosneft (Moscow, London)
20 and 25 July 2006: Meeting of creditors about discharge or bankruptcy YOC
1-4 August 2006: Yukos declared bankrupt
Early August 2006: Receiver Rebgun announces intention to dismiss Godfrey and Misamore
11 August 2006: Judgment in summary proceedings Godfrey et al. versus Receiver Rebgun
21 September 2006: Judgment in summary proceedings Receiver Rebgun et al. versus NautaDutilh et al.
27 September 2006: Summons of Yukos Finance et al. versus Rebgun et al.
01 October 2006: Legal merger between Rosneft and Yuganskneftegaz
17 November 2006: Judgments in summary proceedings, the Rebgun appointed directors versus Godfrey et al.
12 July 2007: Hearing at the District Court in Yukos Finance et al. versus Receiver Rebgun et al.
31 October 2007: Judgment by the District Court Amsterdam in the proceedings on the merits of the case of Yukos Finance et al. versus Receiver Rebgun et al.
04 November 2007: Completion of bankruptcy Yukos
21 November 2007: Yukos deleted from Russian Register of Enterprises
29 January 2009: European Court of Human Rights declares Yukos’ case admissible
04 March 2010: European Court of Human Rights conducts its hearing on the merits of the Yukos case
19 October 2010: Dutch Appeals Court rules that Promneftstroy is not a shareholder in Yukos Finance
7 January 2011: Supreme Court in The Hague overturns a freezing order on funds within Dutch bank accounts held by Yukos International UK in the Netherlands
20 September 2011: Yukos wins major ruling from the ECHR. The court held that the company did not receive a fair trial and that the enforcement of the tax liabilities against Yukos, their speed and the selection of Yuganskneftegaz for sale for initial payment of taxes were inflexible and dealt a ‘fatal blow’ to the company and so were disproportionate.