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11/27/2020 1:02:42 AM
 
 
 

Current Report No. 43/2020

23.09.2020 14:25

Ruling of the Court of Appeal on the claims of Abener Energia S.A. against Elektrociepłownia Stalowa Wola S.A.

In reference to the current report no. 16/2020 of May 2, 2019, TAURON Polska Energia S.A. (”Issuer”) informs that it has received information on the issuing on September 22, 2020 of the judgment by the Court of Appeal in Rzeszów (”Court of Appeal”) in which the Court of Appeal dismissed the complaint of Elektrociepłownia Stalowa Wola S.A. ("ECSW") to reverse the judgment of the Court of Arbitration at the Polish Chamber of Commerce ("Court of Arbitration") of April 25, 2019, pursuant to which ECSW was obliged to pay Abener Energia S.A. ("Abener Energia") in the amount of PLN 333 793 359.31 together with statutory interest for delay and costs of arbitration proceedings.

The proceedings before the Arbitration Court were related to the claim for payment, the petition to establish legal relationship and the claim for an injunction to submit a statement of will (intent) in conjunction with the terminated contract, concluded between Abener Energia (general contractor) and ECSW (employer), for the construction of a CCGT unit at Elektrociepłownia Stalowa Wola S.A. Court proceedings between ECSW and Abener Energia are included in Note 22 of the Interim condensed consolidated financial statements of the Issuer's Capital Group for the first half of 2020, which was published in the form of an interim report on August 19, 2020.

At the same time, the Issuer informs that before the enforcement of the judgment of the Court of Arbitration is declared enforceable, the ECSW will analyse, take measures and will use its rights in order to limit the negative impact of the event above event on the financial position of the ECSW.

The judgment of the Court of Appeal may be appealed in cassation.

The issuer owns, indirectly through its subsidiary TAURON Wytwarzanie S.A., 50 percent shares in the share capital of ECSW.

Article 17 of MAR - inside information
 

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