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Published: 14 september 2012 09:44

Lithuanian court lifts freeze on Alstom assets, refering dispute with Lithuanian developer to Sweden

Elektrėnai
Kęstučio Vanago/BFL nuotr. / Elektrėnai

A Vilnius court has lifted its freeze on 14.4-million-litas (EUR 4.2m) assets of Alstom Power Sweden after deciding that the Swedish company and Lithuania's bankrupt Kruonio Hidroakumuliacinės Elektrinės Statyba (Kruonio HAE Statyba) must take their debt dispute to a Swedish court.

On 10 September, Vilnius Regional Court established that the dispute is governed by Swedish laws, under a cooperation agreement signed by the two companies.

The court imposed the freeze on Alstom Power Sweden's assets last October.

Kruonio HAE Statyba asked the court to order Alstom to pay 11.098 million litas it owes, plus a certain amount in interest and litigation costs.

Kruonio HAE Statyba was Alstom's sub-contractor in a 100-million-euro project at the Lithuanian Power Plant in Elektrėnai.

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Temos: 1 Alstom
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