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KSB Successful for Agrofert in Dispute with EUB

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Kocian Solc Balastik reports that the Municipal Court in Prague has delivered a first instance decision in favor of firm client Agrofert in a case that has been ongoing since 2011 against Luxembourg company European United Bakeries (EUB).

According to KSB, the case concerns "a planned, but ultimately unrealized merger of the company Penam from the Agrofert group with the United Bakeries group (which sells its products mainly under the Odkolek and Delta brands), whose current parent company is EUB. Specifically, the dispute relates to a deposit for part of the shares in the amount of CZK 100 million, the refund of which, including interest on late payment and court costs, was decided by the court in favor of KSB's client, on the basis that the unrealized merger was not the fault of KSB's client."