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SPCG Successful for Shareholders Claiming Interest on Delayed Dividend Payments from PGE GiEK

SPCG Successful for Shareholders Claiming Interest on Delayed Dividend Payments from PGE GiEK

Poland
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SPCG has successfully represented former shareholders of PGE Elektrownia Belchatow SA and other companies from the PGE group in a dispute with PGE GiEK SA before the Supreme Court of Poland involving payment of interest due to delays in dividend payment.

According to SPCG, "the dispute concerned two important legal issues: (1) understanding the effect of ex tunc of the judgment annulling the GMS resolution on payment of dividend in the context of the delay in payment of the dividend; and (2) of the effects of the safeguarding order issued in the proceedings for the annulment of the GA resolution, in the form of a prohibition to execute the challenged resolution pending the termination of the proceedings, also in the context of the delay in payment of the dividend."

SPCG reports that "the main claim amount was PLN 2,320,000 plus statutory interest for delay."

The case was led by SPCG Partner Agnieszka Soja.

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