48/2015: Receipt of a petition to call for a conciliation hearing filed by the General Directorate for National Roads and Motorways.
The Management Board of PBG S.A. w upadłości układowej (in company voluntary arrangement) (“PBG”, the “Company”) announces that on November 6th 2015 the Company received from the District Court for Poznań-Grunwald and Jeżyce in Poznań, 9th Civil Division, a copy of the petition of the State Treasury − the General Directorate for National Roads and Motorways (“GDDKiA”) to call for a conciliation hearing (the “Petition”), dated September 25th 2015.
The claim specified by GDDKiA in the petition has been filed in connection with the “non-performance of the contract ‘Construction of the S5 expressway Poznań (the A2 motorway, Głuchowo junction) – Wrocław (the A8 motorway, Widawa junction) the Kaczkowo – Korzeńsko section, the Bojanów and Rawicz by-pass’”. The claim of PLN 193,190,177.00 comprises contractual penalties of 10% of the contract price, costs of remuneration for subcontractors and other business partners, and costs incurred in connection with the performance of repair and protection works.
The Company’s Management Board does not agree with the grounds on which GDDKiA is pursuing its claim referred to above.