LONDON, Oct 14 (Reuters) - Ablon Group Ltd:
* Hungary supreme court annulled earlier verdict by the Permanent Arbitration Court of the Hungarian Chamber of Commerce & Industry on the BVM
Epelem case
* Arbitration Court initially ruled that the Plaintiff, Global Center LLC (a subsidiary of ABLON) be reimbursed HUF 4.98bn as principal, plus interest due of approximately HUF 3.00bn to compensate Ablon for the illegal delay by BVM in the construction of a factory outlet development project in Budapest
* CEO-we are disappointed that after 10 years, this case has not concluded
satisfactorily in our favour
* Application will be lodged with the supreme court to clarify the legal
position of bright site
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Hungary supreme court annulled earlier verdict by the Permanent Arbitration Court of the Hungarian Chamber of Commerce & Industry on the BVM
Epelem case
* Arbitration Court initially ruled that the Plaintiff, Global Center LLC (a subsidiary of ABLON) be reimbursed HUF 4.98bn as principal, plus interest due of approximately HUF 3.00bn to compensate Ablon for the illegal delay by BVM in the construction of a factory outlet development project in Budapest
* CEO-we are disappointed that after 10 years, this case has not concluded
satisfactorily in our favour
* Application will be lodged with the supreme court to clarify the legal
position of bright site
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
