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2013-05-20 22:17:40 CEST 2013-05-20 22:18:39 CEST REGULATED INFORMATION Klaipedos Nafta AB - Notification on material eventRegarding the adopted decision by the court of first instance in the case between Naftos grupė UAB and the companyOn 20 May 2013 Vilnius Regional Court adopted a decision in the case according to claim of claimant Naftos grupė UAB to Klaipėdos nafta AB (hereinafter, the “Company“) for the compensation of allegedly incurred losses of LTL 17 mill., for reimbursement of surplus of oil products to claimant allegedly belonging to Naftos grupė UAB and held by the Company and for recognition the cancellation of Service contract No. 12-12-2005, dated 22-12-2004 due to Company's supposed fault (the Company announced on the acceptance of the claim and on provision of counterclaim in the case on 20 April 2011 and 5 July 2011 respectively, by notifying the notifications on material event). The court inter alia decided: (i) to admit that the Agreement was terminated through the fault of the Company; (ii) to award Naftos grupė UAB damages in the amount of LTL 9,744,590.67, 6 percent annual interest on the awarded amount for the period from the initiation of the legal proceedings (18 April 2011) till full enforcement of the court judgement, the stamp duty in the amount of LTL 17,235 and the legal expenses in the amount of LTL 25,000 to be paid by the Company; (iii) to reject the counterclaim of the Company against Naftos grupė UAB for invalidation of the Agreement, indemnification for damages and unjust enrichment. In the opinion of the management of the Company, this judgement of the Vilnius Regional Court is unlawful and unreasonable in its part on rejection of the counterclaim and on partly satisfying the requests of the claim inter alia for the reasons that according to it the court did not take into consideration the opinions of the state institutions (the National Audit Office and the Competition Council) regarding separate provisions of the Agreement and possible breaches of the applicable legal acts, as well as that Naftos grupė UAB did not justify the amount of allegedly non-received income due to termination of the Agreement. The Company had terminated this obviously economically disadvantageous agreement in order to secure the best interests of the Company's shareholders. The above-indicated judgement of the Vilnius Regional Court may be appealed against with the Court of Appeal of Lithuania within 30 days after its announcement and the Company is going to file its appeal within the established time limit. Mantas Bartuška, Director of Finance and Administration Department (+370 46) 391 763 |
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