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12/15/2019 5:50:50 AM
 
 
 

Current Report No. 4/2019

11.03.2019 10:00

Filing of a lawsuit against a subsidiary

TAURON Polska Energia S.A. (”Issuer”) announces that on March 7, 2019 the Issuer’s subsidiary - TAURON Sprzedaż sp. z o.o. (”Subsidiary”) received an official copy of the statement of claim filed against the Subsidiary by HSH Nordbank AG with its seat in Hamburg (”Plaintiff”).

The subject of the statement of claim is the payment by the Subsidiary, in favor of the Plaintiff, of the total amount of PLN 232,878,578.36 along with the statutory interest for a late payment, accrued from the day of filing the lawsuit until the payment date, on account of:
- damages (in the total amount of PLN 36,251,978.36) due to the Subsidiary’s failure to perform agreements on the sale of property rights arising from the certificates of origin constituting the confirmation of electricity generation from a renewable energy source, and
- liquidated damages (in the total amount of PLN 196,626,600) assessed due to the termination of the above mentioned agreements.

The plaintiff is seeking redress arising from the purchase by way of a transfer of claims originally due to, according to its assertions, the in.ventus group subsidiaries, i.e.:
- in.ventus sp. z o.o. EW Dobrzyń sp.k.,
- in.ventus sp. z o.o. INO 1 sp.k.,
- in.ventus sp. z o.o. EW Gołdap sp.k.

The Issuer disclosed the termination by the Subsidiary of the long term agreements on the purchase of property rights arising from the certificates of origin of electricity from renewable sources in the current report no. 6/2017 of February 28, 2017.

The competent court to rule on the lawsuit is the Regional Court in Cracow (Sąd Okręgowy w Krakowie).

The Subsidiary has proceeded to review the content of the lawsuit and will file its response to the lawsuit at the appropriate time.

A preliminary assessment of the statement of claim and its justification indicates, in the Subsidiary’s opinion, that the claims sought are completely without merit.

Furthermore, in reference to the current report no. 27/2018 of October 2, 2018 the Issuer informs that it is continuing its negotiations on the acquisition of wind farms located in the north of Poland owned by the in.ventus group subsidiaries.

 

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