Management Board of Mostostal Warszawa S.A.  (hereafter: “Company”) informs hereby that on 29 March 2018, District Court in Szczecin VIII Economic Division has issued an sentence in case brought by Mostostal Warszawa S.A. against  Zakład Unieszkodliwiania Odpadów Sp. z o.o. (VIII GC 57/17) in Szczecin (hereafter “ZUO”), in which the Company will be awarded PLN 33.77 million by ZUO  with additional statutory delay interest, calculated from the amount of PLN 33.31 million starting from 13 February 2017 until the payment date, and from the amount of PLN 460 thousand from 14 March 2017 until the payment date.

The dispute was concerned with  return to the Company of the amounts from the unjustified execution of guarantee to the contract No. ZUO / 5/2012 for the construction of the Thermal Waste Treatment Plant for the Szczecin Metropolitan Area (hereafter: "Contract"), from which the Company withdrew on 14 June 2016 (current report No. 20 / 2016).

The Company claimed that as of the date of requesting payment of funds from the guarantee (ie on 16/06/2016), ZUO did not have any rights to claims against the Company due to non-performance of the contract, and  filed a claim for reimbursement of the unjustified taken amount of 33.8 million PLN.

The court in its motivational arguments pointed to art. 405 of the Civic Code as the legal bases of settlement. The court especially pointed to the fact that banking guarantee agreement was abstract in its character and the construction works contract between the plaintiff and the defendant did not have such form. The  court confirmed that as of the satisfying from the guarantee date there were no other claims that would entitle ZUO to demand payment. The defendant did not show that it was entitled to any claim, including recourse which could satisfy the guarantee.

Management Board of Mostostal Warszawa S.A. (hereafter: “Company”) informs hereby that on 29 March 2018, District Court in Szczecin VIII Economic Division has issued an sentence in case brought by Mostostal Warszawa S.A. against Zakład Unieszkodliwiania Odpadów Sp. z o.o. (VIII GC 57/17) in Szczecin (hereafter “ZUO”), in which the Company will be awarded PLN 33.77 million by ZUO with additional statutory delay interest, calculated from the amount of PLN 33.31 million starting from 13 February 2017 until the payment date, and from the amount of PLN 460 thousand from 14 March 2017 until the payment date.

The dispute was concerned with return to the Company of the amounts from the unjustified execution of guarantee to the contract No. ZUO / 5/2012 for the construction of the Thermal Waste Treatment Plant for the Szczecin Metropolitan Area (hereafter: "Contract"), from which the Company withdrew on 14 June 2016 (current report No. 20 / 2016).

The Company claimed that as of the date of requesting payment of funds from the guarantee (ie on 16/06/2016), ZUO did not have any rights to claims against the Company due to non-performance of the contract, and filed a claim for reimbursement of the unjustified taken amount of 33.8 million PLN.

The court in its motivational arguments pointed to art. 405 of the Civic Code as the legal bases of settlement. The court especially pointed to the fact that banking guarantee agreement was abstract in its character and the construction works contract between the plaintiff and the defendant did not have such form. The court confirmed that as of the satisfying from the guarantee date there were no other claims that would entitle ZUO to demand payment. The defendant did not show that it was entitled to any claim, including recourse which could satisfy the guarantee.