Brief: Bumech Unit Silesia Files 124.7 Mln Zloty Lawsuit For Termination Of Coal Delivery Deal

Bumech SA

21/06/2022 06:39

June 21 (Reuters) - Bumech SA  BMCP.WA :
    * SAID ON MONDAY THE COMPANY'S UNIT PRZEDSIEBIORSTWO
GORNICZE
"SILESIA" HAS FILED A LAWSUIT AGAINST A DOMESTIC COMPANY FOR
TERMINATION OF CONTRACTUAL OBLIGATION RELATIONSHIP
    * THE ESTIMATED VALUE OF THE DISPUTE AMOUNTS TO 124.7 MLN
ZLOTYS
NET
    * THE SAID CAPITAL COMPANY IS A PART OF AN EUROPEAN ENERGY
CORPORATION
    * THE SUBJECT MATTER OF THE DISPUTE IS DELIVERY PRICE OF THE
REMAINING OF 540,000 TONNES OF ENERGY COAL IN THE PERIOD UNTIL
END OF DECEMBER, 2023
    * ACCORDING TO THE DEAL FOR SAID RESOURCE, THE COMPANY'S
UNIT WAS
OBLIGED TO SELL THE COAL BELOW CURRENT PRODUCTION COSTS
    * FILING OF THE LAWSUIT WAS DICTATED BY AN EXTRAORDINARY
CHANGE OF
RELATIONSHIP 
    * IF THE COMPANY'S UNIT WERE TO ABIDE BY THE FORMER VERSION
OF THE
AGREEMENT IT WOULD SUFFER A SIGNIFICANT LOSS THAT HAD NOT BEEN
FORESEEN BY ANY OF THE PARTIES AT THE TIME OF SIGNING OF THE
DEAL

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM49pLs7a
 Further company coverage:  BMCP.WA  

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