END OF LONG-STANDING DISPUTE INVOLVING BILIA SUBSIDIARY SÄFVEÅN AB
The long-standing dispute between Bilia subsidiary Säfveån AB (formerly AB Probo) and the litigation company Pacta has now been resolved. Pacta brought a suit against Säfveån at the District Court of Gothenburg back in 1995. The background to the dispute was the investment schemes offered by Säfveån and others in the 1980s. In its suit, Pacta was asking for damages amounting to about SEK 120 million plus interest accruing from the mid-1990s. At present, Pacta’s claim including interest amounts to about SEK 300 million. In February 2008, Säfveån won the case in the District Court, which dismissed all of Pacta’s claims. Pacta has since appealed to the Court of Appeal, which had planned to hear the case at the end of 2009. Säfveån and Pacta have now reached a settlement. Under its terms, Säfveån will pay an amount to Pacta so that the dispute, and thereby the risk it entails, can be set aside forever.The settlement entails a cost for Säfveån of SEK 23 million. Bilia’s CEO Jan Pettersson comments: “It is with great satisfaction we now put this dispute behind us so that we can devote all our energies to our true business.”
Göteborg, 17 September 2009
Bilia AB (publ)
For further information, please contact Jan Pettersson, Managing Director and CEO, or Gunnar Blomkvist, Chief Financial Officer, Bilia AB, tel. 031-709 55 00.
The above information is disclosed in accordance with the Securities Market Act and/or the Financial Instruments Trading Act. The information was published on 17 September 2009 at 10:30 a.m.
