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US Judge Reaffirms Ruling American Courts Lack Jurisdiction in Yukos Case

A U.S. bankruptcy judge has reaffirmed her ruling that U.S. courts do not have jurisdiction in the Yukos case.

Judge Letitia Clark had ruled last week that the company does not have enough presence in the United States for the courts to intervene. The firm based its case on the fact that its financial chief owns a home in Texas and the company has bank accounts there.

The embattled firm was seeking bankruptcy protection after Russia's court-ordered sale of its Yuganskneftegaz production unit.

Yukos had sought help from the court in an unsuccessful attempt to halt the auction. Judge Clark in December temporarily had approved a Yukos request to block the sale.

Some information for this report provided by Reuters.