The lawyers of Deutsche Bank asked the court in the Houston, Texas, to decline the filing for bankruptcy protection of the Russian oil giant Yukos. The document states that the company has virtually no business links to the state of Texas, and thus cannot be considered to be within the jurisdiction of the local court. Yukos links with the state are limited to the fact that the company’s chief financial officer Bruce Misamore has moved to Houston, and about $7 million has been transferred to two accounts in Texas to cover legal proceedings. This gives Deutsche a reason to say that Yukos has in fact no property in Houston and does not run any operations in the state.

Deutsche Bank says in its filing: ’This blatant attempt to artificially manufacture a basis for jurisdiction constitutes cause to dismiss this case.” The lawyers also called “a stunt” Yukos filing for bankruptcy protection in an attempt to avert the sale of its main asset, Yuganskneftegaz, in an auction held on December 19.

A court ruling in favour of the Russian second-largest oil company resulted in the restraining order on all Yukos assets to be in effect for 15 days, followed by bankruptcy proceedings. The US court decision prevented Deutsche Bank and other major banks from extending a loan to Gazprom that was going to participate in the auction.