Court to consider suit over $99 mln Yukos Capital agreements
MOSCOW, January 30 - RAPSI, Dmitry Shchitov. The court will hear on January 31 Neft-Aktiv's lawsuit to quash $99 million in loan agreements between Luxembourg's Yukos Capital S.a.r.l. and Rosneft's Samaraneftegaz, the court told the Russian Legal Information Agency (RAPSI/rapsinews.com).
The plaintiff, which is also a Rosneft subsidiary, seeks to invalidate loan agreements dated July 20 and 27, 2004, alleging that they are "sham transactions designated to cover actual relations between the parties, i.e. the unlawful transfer of Samaraneftegaz funds to Yukos Capital S.a.r.l., and their subsequent return in the form of a loan."
The loans amounted to 2.415 billion rubles ($79.5 million) plus 664.8 million rubles ($21.9 million) as interest.
The Samara Regional Commercial Court suspended proceedings in this case on July 28, 2009 until a Moscow district court judgment enters into force on the case.
The Samara court resumed the process in July.