2012-09-11 18:42

Court asks for proof of Kaunas power plant sale deal

A court has asked Kauno Termofikacijos Elektrinė (Kaunas Combined Heat and Power Plant, or KTE) to provide documents proving the signing of an agreement on the sale of the plant before deciding if it will temporarily suspend the transaction.
Kauno termofikacinės elektrinės plėtra supriešino politikus
Kauno termofikacinė elektrinė / Eriko Ovčarenko / BNS nuotr.

"The court gave KTE until next Tuesday to provide documents showing if agreements on the sale of the shares have been signed," Jomilė Juškaitė-Vizbarienė, a spokeswoman for the Kaunas City District Court, told BNS.

She said that the court on Tuesday did not take a decision regarding the city administration's request to temporarily suspend the sale of shares held in KTE by Russia's gas giant Gazprom to Clement Power Venture, a US-registered company owned by Rimandas Stonys.

The spokeswoman said that the court will hear the dispute behind closed doors due to confidential commercial information involved in the case.

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