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Court hearing for EVN and ELEM put off for 4 months.

The end of September is the new deadline that the two energy companies, EVN and ELEM, set to themselves to find an out-of-court solution.

Kapital has learned from sources in the court that the two companies requested that the court hearing set for Friday be postponed, explaining that they need more time to find an out-of-court solution.

In this way ELEM will renounce the intention of collecting 200 million euros and in exchange EVN is going to drop the charges pressed against the Republic of Macedonia before the International Court of Arbitration in Washington.

A year ago, ELEM launched a court procedure against EVN of Austria demanding of it to pay 200 million euros based on uncollected electricity bills. There are 400,000 charges pressed against consumers based on these uncollected claims.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:May 12, 2010
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