MOSCOW, February 2 - RAPSI. The court has sided with a Rosneft subsidiary in its petition to cancel an over $98.6 million loan contract between the Luxembourg-based Yukos Capital S.a.r.l. and Samaraneftegaz.

Neft-Aktiv seeks to invalidate loan contracts signed between the defendants on July 20 and 27, 2004.

Neft-Aktiv maintains that "these contracts are bogus deals aimed to cover up the illegal transfer of Samaraneftegaz's funds to Yukos Capital S.a.r.l. and the subsequent return of these funds as loans to Samaraneftegaz."

The loans amounted to a total of 2.415 billion rubles ($98.6 million). The companies also accrued interest worth 664.8 million rubles ($21.8 million).

The Samara Regional Commercial Court earlier suspended the case on July 28, 2009 until the Moscow Commercial Court's judgment in a criminal case comes into force. However, the Samara Commercial Court resumed the case last July.

Yukos Capital, owned by former YUKOS top managers, seeks to recover losses it allegedly sustained as a result of bankruptcy.