MOSCOW, July 5 – RAPSI. The Eleventh Commercial Court of Appeals in Samara has postponed until July 17 its consideration of the appeal against a court decision invalidating a loan agreement worth $92.41million between Luxemburg's Yukos Capital S.a.r.l. and Rosneft's Samareneftegaz, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Thursday.
The court did not state the reason for postponing the consideration. Samaraneftegaz is part of the Russian oil giant Rosneft.
Yukos Capital S.a.r.l. seeks to appeal the Samara Regional Commercial Court's adverse judgment.
On February 8, the court held for Neft-Activ's motion to invalidate the loan contracts.
Neft-Activ, a Rosneft subsidiary, sought to invalidate loan contracts signed on July 20 and July 27, 2004. The company said the "contracts are bogus deals aimed at concealing the true agreement, which was the illegal transfer of funds from Samaraneftegaz to Yukos Capital S.a.r.l. and the later return of the funds as a loan to Samaraneftegaz."
The loans issued to Samaraneftegaz amounted to 2.415 billion rubles ($82.5 million). The company was also charged 664.8 million rubles ($22.7 million) in interest.
On July 28, 2009, the Samara Regional Commercial Court suspended the proceedings in the case until the judicial act in the criminal case tried by the Moscow Khamovnichesky District Court came into force.
The commercial court in Samara resumed the proceedings in July 2011.