Energia
On adopted Resolutions of the Court
The Company informs, that on 30 October 2018 The Supreme Administrative Court of Lithuania dismissed the Company's appeal upholding the former Vilnius Regional Administrative Court decision of 2 July 2017 which dismissed the Company's complaint. In this case the Company requested the following points:
This decision by The Supreme Administrative Court of Lithuania is without appeal.
One of the subject matters of this legal dispute have been the Resolutions of NCC by which NCC's Resolution NoO3-757 of 7 August 2014 has been implemented. The latter Resolution recognized the Company as having a significant subject within the market of production of electric energy. This Resolution has been repealed by a decision of 2016 by The Supreme Administrative Court of Lithuania is without appeal. Yet due to the decision of 30 October 2018 by The Supreme Administrative Court of Lithuania, the Resolutions of NCC that implemented NCC's Resolution NoO3-757 of 7 August 2014 under which during 2016 the Company has not received 2,51 million Eur in payments for PI services. In it's financial report for the first three quarters (that have ended on 30 September 2018), the Company has stated that it's total undefined assets as of 30 September 2018 amounted to 2,51 million Eur.
The Company emphasizes that the decision of 30 October 2018 by The Supreme Administrative Court of Lithuania goes cardinally against the former legal practice as on the 5 August 2016 the Regional Administrative Court of Vilnius has repealed an analogous NCC's Resolution that also implemented NCC's Resolution NoO3-757 of 7 August 2014 and under which during 2015 the Company has not received 5,4 million Eur in payments for PI services. By way of implementing this decision of the Regional Administrative Court of Vilnius, these payments are turned back to the Company over 2018.
The Supreme Administrative Court of Lithuania has further found and stated the following:
The Company has recognized the effect of all the aforementioned NCC's Resolutions in its financial reports, hence there will be no further effect on the Company's results.
Valentas Neviera, Head of Communication Division, tel. +370 670 25997, e-mail. valentas.neviera@le.lt
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti