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Friday, 26.04.2024, 23:36
Strabag Wasserbau fails to recover EUR 0.5 mln from Klaipeda port
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The Lithuanian Court of Appeals has upheld the Klaipeda Region Court's decision, made in 2013, to dismiss Strabag Wasserbau's claim against the port's authority.
The Court of Appeals ruled in September 2014 that the contract on the construction of quays had been cancelled in 2011 through the authority's fault. The port was ordered to pay Klaipedos Hidrotechnika, a local construction company, and Strabag Wasserbau more than 2.9 million euros in debt, interest and penalties.
Strabag Wasserbau was to be repaid 695,700 euros in debt, penalties and 8.49 percent annual interest.
Klaipedos Hidrotechnika and Strabag Wasserbau signed the 22.76-million contract with the port's authority back in 2006.
The two companies sought a total of 6.26 million euros in debt, interest and penalties from the port.
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