Brief: Rafako Gets Partial Arbitration Ruling On Vilnius Power Plant Deal

Rafako SA w upadlosci

08/08/2022 08:28

Aug 8 (Reuters) - Rafako SA  RFK.WA :
    * SAID ON FRIDAY IT HAS RECEIVED PARTIAL RULING FROM
ARBITRATION
COURT ON 2016 CONSTRUCTION DEAL WITH VILNIAUS KOGENERACINĖ
JĖGAINĖ (ORDERER)
    * RULING REGARDS 2016 CONSTRUCTION DEAL FOR BIOFUEL
COGENERATION
POWER PLANT IN VILNIUS
    * TRIBUNAL HAS RULED AMONG OTHERS THAT CONTRACT WAS NEITHER
INVALID NOR NONPERFORMABLE, ORDERER WAS ENTITLED TO WITHDRAW
FROM CONTRACT, RECEIVE DOCUMENTATION FROM COMPANY AND
CONTRACTUAL PENALTIES FOR DELAY BY COMPANY AND TO DEMAND
INSURANCE GUARANTEE PAYMENTS FROM GENERALI AND KUKE
    * COMPANY MAINTAINS THAT ITS LIABLILITIES TOWARDS KUKE AND
GENERALI REGARDING GUARANTEE PAYMENTS TO ORDERER ARE PART OF
BINDING ARRANGEMENT UNDER COMPANY'S RESTRUCTURING PROCEEDINGS
    * COMPANY TO DECIDE ON FURTHER MEASURES

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM7Q9Vxpa
 Further company coverage:  RFK.WA  

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