Lemminkainen requests leave to appeal in connection with Helsinki Court of Appeal's decisions related to asphalt cartel damages.
M2 EQUITYBITES-December 20, 2016-Lemminkainen requests leave to appeal in connection with Helsinki Court of Appeal's decisions related to asphalt cartel damages
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Lemminkainen (HEX:LEM1S) announced on Monday that it has requested leave to appeal from the Supreme Court concerning Helsinki Court of Appeal's decisions regarding damages related to the asphalt cartel.
According to Lemminkainen, there are certain aspects, where the conclusions of the Helsinki Court of Appeal differ from previous case law or where there is no established case law. Such aspects include the State's liability and value added tax.
Lemminkainen said it has requested leave to appeal concerning the Helsinki Court of Appeal's decisions regarding the State's claim and those 13 municipalities' claims, where the claimants' claims were partly accepted and where Lemminkainen did not reach a settlement with the claimants after the Helsinki Court of Appeal's decisions.
On 7 December 2016, Lemminkainen had announced that it had settled with ten municipalities (Imatra, Joensuu, Jyvaskyla, Kouvola, Kuhmo, Lappeenranta, Lieksa, Naantali, Raisio, Aanekoski). The parties agreed not to request leave to appeal from the Supreme Court concerning the Helsinki Court of Appeal's decisions.
Subsequently, Lemminkainen has reached similar settlements with seven municipalities (Iisalmi, Kajaani, Kuopio, Nivala, Pori, Siilinjarvi, Suomussalmi). Through the settlements, the parties wished to end long-lasting legal proceedings and avoid additional costs. According to the settlement agreements, the parties do not take any stand on whether there were any grounds for compensation.
On 20 October 2016, the Helsinki Court of Appeal gave its decisions concerning damages related to the asphalt cartel. On 20 October 2016 and 24 October 2016, Lemminkainen published releases of the decisions and their impacts.
Lemminkainen is an expert in complex infrastructure construction and building construction in Northern Europe and a large paving company.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 20, 2016|
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