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LTR: AS Alta Foods assigned part of the disputable claim

Spekuliantai.lt | 2009-08-19 | NASDAQ OMX biržų naujienos | perskaitė: 1539
Raktiniai žodžiai: Luterma, LTR
LTR: AS Alta Foods assigned part of the disputable claim

Luterma Company Announcement 19.08.2009

AS Alta Foods assigned part of the disputable claim

AS Luterma received a notice from OÜ Dalton Eesti (entered into commercial
registry on 27th of July 2009) representative which informs that AS Alta Foods
has partially assigned the disputable claim of 6 million euros (93,9 million
kroons). According to the notice AS Alta Foods and OÜ Dalton Eesti have
concluded an agreement concerning assignment of the right of claim by which AS
Alta Foods has assigned 50% of its unrecognized claim towards AS Luterma to OÜ
Dalton Eesti, for what Arbitration Institute of the Stockholm Chambers of
Commerce made on 20th of July 2009 an award for the benefit of AS Alta Foods.

AS Luterma affirms that it has no obligation to fulfill the alleged claim in
front of AS Alta Foods or OÜ Dalton Eesti because the mentioned Arbitration
Institute of the Stockholm Chambers of Commerce award has not been accepted or
declared to be implemented in Republic of Estonia and the award has been
contested in court.

AS Alta Foods does not have a claim against AS Luterma what to assign to OÜ
Dalton Eesti. AS Luterma has notified OÜ Dalton Eesti that the alleged claim
is groundless.

AS Luterma does not have official information about OÜ Dalton Eesti or people
connected with OÜ Dalton Eesti and AS Alta Foods and people connected with AS
Alta Foods mutual economical relations wherefore it is difficult for AS Luterma
to assess AS Alta Foods motives behind assignment of claim. AS Luterma has not
forwarded contracts or any other documents that are basis of the assignment of
the alleged claim. Assignment of claim involuntarily can not influence AS
Luterma state of obligations because assignment would mean displacement of
creditor.

AS Luterma has previously announced that attorney at law Paul Varul has
prepared dissenting opinion to the award which is unusual in arbitral tribunal
and which to AS Luterma opinion proves that the award is problematical and
fulfillment is disputable. In addition AS Luterma points out that in award 20th
July 2009 chairman of the arbitral tribunal has solely and autographically
crossed out text of the award which is also unusual in formalization of the
decision.


Allan Viirma
Head of the Legal Service

Telephone 688 6600



1. vahekohtu otsus 20.07.2009.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=272818)

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