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2011-02-16 16:23:29 CET 2011-02-16 16:24:30 CET REGULATED INFORMATION Skipti hf. - Company AnnouncementNotification of arbitration tribunal decisionSíminn hf., a subsidiary of Skipti hf., has received information that the District Court of Reykjavík has confirmed as enforceable a decision in a dispute between Síminn and the telecommunications company Seamobile Europe, which was under arbitration by a tribunal in Paris. The arbitration tribunal concluded that Síminn was liable for damages, particularly in respect of an alleged loss of future profits based on an agreement that Landssími Íslands hf. entered into with the company Geolink in 2003 concerning telecommunications services in international waters. The amount of the claim is approximately EUR 7.7 million. In the opinion of Síminn, the decision of the arbitration tribunal is not consistent with Icelandic law; it was agreed between the parties that any arbitration should be based on Icelandic law. Síminn will now exercise the recourses available in its defence according to law. |
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