Great update15 Mar 2023 08:11
As noted in the Company’s announcement of 1 November 2022, the Venice Court ruled in favour of CL17 for an aggregate amount of €6,188,974 (plus interest and adjustments for inflation to accrue from different dates until the date of payment) in damages, plus €85,499 in legal expenses (together the “Award Payment”).
On 1 December 2022, the Sipiem defendants filed their appeals against the ruling, requesting the Venice Court of Appeal (“Appeal Court”) to:
set aside the Venice’s Court’s judgment; and
enjoin the enforceability of the Award Payment until the ruling of the set aside appeal.