Eregli Demir ve Celik Fabrikalari T : EREGL EREĞLİ DEMİR VE ÇELİK FABRİKALARI T.A.Ş.( Lawsuit Against Company or Developments in the Lawsuit Against Company
January 29, 2018 at 03:29 pm EST
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29/01/2018-23:20:04
***EREGL*** EREĞLİ DEMİR VE ÇELİK FABRİKALARI T.A.Ş.( Lawsuit Against Company or Developments in the Lawsuit Against Company )
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English
Lawsuit Against Company or Developments in the Lawsuit Against Company
Update Notification Flag
Evet (Yes)
Correction Notification Flag
Hayır (No)
Date Of The Previous Notification About The Same Subject
29.11.2017
Postponed Notification Flag
Evet (Yes)
Announcement Content
Date of Lawsuit
05.10.2012
Notification Date of Lawsuit to Company
31.10.2012
Subject of Lawsuit
Compensation
Counterparties of Lawsuit
Tata Steel International (North America) Ltd. (old title Corus International Trading Ltd.)
Lawsuit Amount
8.668.800 TL
Ratio of Lawsuit Amount to Total Assets Disclosed in Latest Financial Statements of Entity (%)
0,03
Relavant Court and File Number
Kdz. Ereğli Civil Court of First Instance 2nd / 2013/63 E.
Trial Date
-
Decision
-
Next Trial Date
-
Amount of Provision in Financial Statements if any
29.432.480 TL
Effect to Operations of Company
-
Explanations
A contract has been signed between the Corus Trading Ltd - of which new title is Tata Steel International (North America) Ltd. of which registered office is in Illinois in United States of America in 2008. Our company has fulfilled all its liabilities in January and February of 2009. Corus International Trading Ltd. company has sold the products that they had provided from us to the third person, however, then, has put forward that some indemnity claims have been made to them because of them and some of that claims must be compensated by Erdemir. The parties cannot reach full agreement on the subject and then, an indemnity claim has been made against our Company in Illinois State Regional Court of America by them with their representatives with the value of 4.800.000,00 USD. KAP explanation has been made regarding to this claim on 17.08.2010. Following the rejection of the mentioned claim with the terms of authorization a new claim has been filed by the Tata Steel International (North America) Ltd. Company to the Texas State Regional Court. KAP explanation regarding with this situation has been made on 24.08.2011 and it is publicized with the KAP explanations on 16.07.2012 that also this claim has been rejected with terms of authorization. It has been learnt by a notification made to our company on 31.10.2012 that by Corus International Trading Ltd. Company - of which new title is Tata Steel International (North America) Ltd. a compensation claim of 8.668.800 TL (4.800.000,00 USD) has been filed against our company with the same claims and demands to the Ankara Commercial Court of First Instance 14th. As the result of the trial made, the court has decided to dismiss the case due to lack of jurisdiction and has sent the file to Karadeniz Ereğli 2. Court of First Instance. At the hearing of the ongoing case dated 28 November 2017, Kdz. Ereğli 2. Civil Court of First Instance has decided to partially accept the case against our Company. Our company has applied for the appeal against the decision. In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
www.kap.org.tr/en/Bildirim/656182
BIST
Eregli Demir ve Çelik Fabrikalari TAS published this content on 29 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 January 2018 20:28:19 UTC.
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Eregli Demir ve Celik Fabrikalari TAS is a Turkey-based company, which is engaged in the production of iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed products, coke and their by-products. The Company produces plates, hot and cold rolled, tin, chromium and zinc coated flat steel and supplies basic inputs to automotive, white goods, pipes and tubes, rolling, manufacturing, electrics-electronics, mechanical engineering, energy, heating equipment, shipbuilding, defense, and packaging industries. The Companyâs subsidiaries include: Erdemir Asia Pacific Pte Ltd, Erdemir Celik Servis Merkezi Sanayi ve Ticaret AS, Erdemir Madencilik Sanayi ve Ticaret AS, Erdemir Muhendislik Yonetim ve Danismanlik Hizmetleri AS, Erdemir-Romania SRL and Iskenderun Demir ve Celik AS.
Eregli Demir ve Celik Fabrikalari T : EREGL EREĞLİ DEMİR VE ÇELİK FABRİKALARI T.A.Ş.( Lawsuit Against Company or Developments in the Lawsuit Against Company