ST. PETERSBURG, January 19 - RAPSI. The court has terminated the proceedings in the Severnaya Verf shipyard's $25.2 million lawsuit against Sberbank, according to the court records.

The court did not specify the reason for the termination.

RIA Novosti could not yet reach Severnaya Verf for comments.

The shipyard filed three lawsuits worth a total of 5.2 billion rubles ($164.8 million) against Vneshtorgbank, Sberbank and Alfa-Bank with commercial courts in Moscow and St. Petersburg last November. The Moscow Commercial Court is expected to hear on Thursday the shipyard's 1.47 billion ruble ($46.6 million) claim against VTB Bank and 2.94 billion ruble ($93.2 million) claim against Alfa-Bank.

Severnaya Verf said in November that it hoped the court would order the banks to grant it loans under a government order dated September 8, which obliged the banks to issue up to 22 billion rubles ($697.4million) to the shipyard last year to fulfill a defense procurement contract.

Severnaya Verf earlier won the government's support and was appointed the exclusive vendor of modified corvettes under the 20385 Project.

Severnaya Verf and the Defense Ministry have entered into a contract under which the shipyard must build the first four of 20 required ships.

The shipyard is now building four corvettes under the 20380 Project, two frigates under the 22350 Project and a special ship for communication purposes under the 18280 Project.

Severnaya Verf is part of former Senator Sergei Pugachyov's United Industrial Corporation (UIC). It was pledged along with other UIC assets with the Central Bank as security for a 32 billion ruble ($1 billion) loan granted to the now insolvent Mezhprombank.