Romania: Alpiq lost court case against Hidroelectrica for cancelled contract, SEE Energy News
Alpiq lost the loss claim court case against Hidroelectrica for cancelled bilateral supply contracts.
Bucharest Court rejected as unfounded the request of Alpiq Romenergie for 215.75 million lei compensation for termination of contract by the insolvency administrator of 3 April 2008.
According to Hidroelectrica press release, company was forced to pay costs in the amount of 166.452 lei, accounting fees, lawyers and experts.
Alpiq Romenergie has lost a lawsuit against Hidroelectrica in February, when court rejected Alpiq request for compensation of 527.79 million lei, representing damages resulted from Hidroelectrica activation of force majeure in 2011 and 2012,
Hidroelectrica press release explains that Alpiq Romenergie is one of the traders whose contracts were terminated by Euro Insol after the opening of insolvency proceedings.
Remus Borza, the judicial administrator of Hidroelectrica, said: “the agreement with Alpiq Romenergie generated only during 2008 – May 31, 2012 a loss of 427 247 548 lei. The energy made available by denouncing this contract damaging Hidroelectrica obtained from August 2012 – December 2015 additional revenue of 350 million lei “, adding that the first sentence of the court, on this kind of action, confirms once again that the measure of termination of bilateral contracts signed by Hidroelectrica with energy traders was lawful and sound, justified by the huge losses suffered by the company through the conclusion and execution of such contracts.
Mr. Borza says: “Since autumn 2012, energy traders are seeking damages for loss of earnings during the terminated contracts until 2018-2019, by which time the contracts were extended so long as these contracts were concluded in fraud of shareholders, creditors and the law. Illegal and prejudicial nature of these contracts was proved later by ANAF, the Court of Auditors, DNA, High Court of Cassation and Justice, and more recently, the Competition Council “, transmits Serbia-energy.eu
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