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Yukos suit to protect reputation of foreign managers

MOSCOW. Dec 16 (Interfax) - Former Yukos CEO Mikhail Khodorkovsky believes that the decision by company management to file a petition for reorganization with a U.S. court will not help Yukos shareholders, according to a statement distributed by Khodorkovsky's press service.

He said that he "is grieved by this turn of events."

"But, I cannot judge the company's foreign managers and board of directors for filing a petition for reorganization with an American court. They did more than could have been expected of them to save the company and now they are protecting their own reputation," he said. "But this, of course, will not help company shareholders. But I can understand management," Khodorkovsky said.

"However, the authorities are difficult to understand," he said.