LEMMINKÄINEN CORPORATION ONLINE RELEASE 2 MARCH 2015 AT 8:00 A.M.
THE HEARING OF THE LEGAL PROCEEDINGS CONCERNING DAMAGES RELATED TO THE ASPHALT INDUSTRY TO START AT THE COURT OF APPEAL
The main oral hearing of the legal proceedings concerning damages related to the asphalt cartel will start at the Helsinki Court of Appeal on 2 March 2015.
Lemminkäinen has appealed to the Court of Appeal against all 35 decisions of the District Court of Helsinki, in which the plaintiffs' claims were upheld. In Lemminkäinen's opinion, there are some judicial aspects in the decisions of the District Court, where the conclusions of the District Court differs from previous legal practices. Such judicial aspects are related to, for example, the questions of prescriptions and value added tax.
On 28 November 2013, the District Court of Helsinki issued its decisions concerning damages related to the asphalt cartel. In line with the decisions, Lemminkäinen recorded approximately EUR 66 million in expenses in its 2013 result. Of this, approximately EUR 60 million consisted of damages ordered only to Lemminkäinen, Lemminkäinen's share of the damages ordered to it and other asphalt industry companies to be paid jointly and severally, as well as interest and legal expenses related to the damages. This amount was paid by the company in January 2014.
The Finnish state and 22 municipalities have also appealed against the decisions of the District Court.
More information: http://www.lemminkainen.com/Lemminkainen/Investors/Lemminkainen-as-an-investment/Asphalt-cartel-issue