Re Alita has received an arbitral award notice from the Foreign Trade Court of Arbitration at the Serbian Chamber of CommerceAlytus, Lithuania, 2012-10-02 15:18 CEST --
Company group ALITA AB (the Company) has already informed of the arbitration case at the Foreign Trade Court of Arbitration at the Serbian Chamber of Commerce, initiated by the Serbian Privatisation Agency claiming EUR 68 347 168 from AB “ALT Investicijos” and United Nordic Beverages AB and where on the request of the Serbian Privatisation Agency the arbitration court included the Company as a respondent. On 1 October 2012 the Company received a notice from the Foreign Trade Court of Arbitration at the Serbian Chamber of Commerce concerning the adopted arbitral award. The award was received in Serbian language and is currently in translation. From the translated part of the award, the Company understands that the Privatisation agency was awarded EUR 16 848 655 and 1,95 % annual interest, but joint responsibility of the Company is limited to the maximum amount of LTL 39 196 065 (EUR 11 351 965, according to the official Lietuvos bankas currency exchange rate for October 2, 2012) ). Also Privatisation agency was awarded EUR 204 832 legal expenses and the award stated that respondents are fully responsible for them.
The Company continues to hold the position that it was unfoundedly included as a respondent in the arbitration proceedings initiated by the Serbian Privatisation Agency against AB “ALT Investicijos” and United Nordic Beverages AB, despite the fact that it is not a party to the Privatisation Agreement of “Beogradska industrija piva” and has never agreed to arbitrate. Foreign arbitral awards can be enforced in Lithuania if they are recognised and allowed to be enforced in accordance with the Lithuanian laws. The present arbitral award, received by the Company, is not recognised in accordance with the Lithuanian laws.
For additional information, please contact the General Director Vaidas Mickus, tel. (+ 370 315) 57243.
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