MOSCOW, Nov. 3 (UPI) -- Russia's giant Yukos energy company, apparently on its financial deathbed, is asking shareholders to consider liquidation.
Steven Theede, who runs the beleaguered crude oil producer, said Yukos was very close to insolvency, Interfax reported Wednesday. He said the company is more than three months overdue on its bills.
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Moscow prosecutors have been pursuing the company to reclaim what they say are billions of dollars in back taxes.
Theede Tuesday called for two extraordinary shareholder meetings, the first of which will anti-crisis measures, liquidation and bankruptcy. The dates of the meetings were not immediately disclosed.
