Espoo, Finland, 2016-11-30 17:55 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 30.11.2016, AT 18.55
The decision by Helsinki District Court in the dispute between SRV and Kiinteistö Oy Abraham Wetterintie 6
Kiinteistö Oy Abraham Wetterintie 6 has today been ordered to pay SRV Rakennus Oy 1.009 million euros in the dispute between SRV and Kiinteistö Oy Abraham Wetterintie 6 (“AW 6”).
Today, November 30, 2016, the Helsinki District Court announced its judgement in the case between SRV and AW 6. According to the judgement in the Helsinki Distric Court, the AW 6 will be required to pay SRV unpaid payments of the contract price and additional and modification works approved by the client added with penalty interest.
The dispute between the parties concerns construction costs, schedule and the payment obligation of the client in a construction project, where SRV Rakennus Oy has built AW 6 several apartment buildings. The shares of AW 6 are owned by Keva.
SRV shall examine the content of the decision and thereafter shall decide on whether to appeal to the court of appeal.
The Helsinki District Court`s decision will have no impact on the outlook for 2016. The earnings forecast for 2016 remains unchanged.
More information
Juha Toimela, Vice President, Operations in Finland, +358 40 594 5473, juha.toimela@srv.fi
www.srv.fi
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