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2008.04.23

Forced share sale case reopenedForced share sale case reopened



Vilnius District Court (VDC) announced its decision to reopen the case on the forced sale of “Kriptonika” shares, and the implementation of the decision whereby “Penki kontinentai” company was obligated to sell “Kriptonika” shares to “Universalios valdymo sistemos” (UVS) was suspended. This is one of the most important subjects of the court battles going on for several years already between “Penki kontinentai” and UVS groups of companies which own half of the “Kriptonika” shares each.

VDC satisfied the petition by “Penki kontinentai” and decided to reopen the case with respect to the circumstances that came to light following the case hearing.

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