Copenhagen, 2011-08-25 13:06 CEST (GLOBE NEWSWIRE) -- The Arbitration Tribunal has rejected TPSA’s objections to the delivery of critical data and decided that TPSA must hand over to DPTG data relevant for the calculation of traffic on the NSL fiber optical telecommunication system and the revenue generated by the NSL during phase 2 (mid-2004 to 2009).
On July 1, 2011 DPTG filed a request for additional data to the Arbitration Tribunal with the purpose of accessing critical data relevant for calculating DPTG’s unpaid share of revenues generated by the NSL during phase 2.
TPSA objected to DPTG´s request and surprisingly argued that the data requested was irrelevant. The Arbitration Tribunal has promptly rejected TPSA’s objections and TPSA has now been ordered to deliver the data no later than September 30, 2011.
Background
GN Store Nord continues to be involved in an arbitration case against Telekomunikacja Polska S.A. (TPSA) through its 75% share of DPTG I/S. The dispute concerns the determination of DPTG's share of the revenue generated by traffic carried on the NSL fiber optical telecommunication system in Poland. DPTG is entitled to 14.8% of net profits from NSL during the period 1994-2009. The seat of the Arbitration Tribunal is Vienna, Austria.
The arbitration case against TPSA was initiated by DPTG in 2001 as a result of TPSA's failure to account all traffic carried on the NSL for the purpose of calculating DPTG's share of the revenue generated by the NSL. On September 3, 2010 the Arbitration Tribunal awarded DPTG approximately DKK 2.9 billion for the contract period from 1994 to mid-2004 (phase 1). Despite the fact that the award is final and legally binding, TPSA did not pay the amount due within the 14-day deadline established by the Arbitration Tribunal, and the payment is still outstanding. Interest of 6% p.a. on the amount awarded to DPTG will accrue until payment by TPSA is made.
On January 14, 2011 DPTG filed a claim of DKK 2.4 billion for phase 2 (mid-2004 to 2009).
For further information, please contact:
Mikkel Danvold
VP, IR & Communications
GN Store Nord A/S
Tel: +45 45 75 02 71