Panevezio Statybos Trestas

Legal Proceedings Report • Jan 23, 2024

Disclosure 441449

Panevezio Statybos Trestas - Notification on material event

Settlement Agreement and Dispute Ending

Panevezio statybos trestas AB (PST) hereby informs that on 23 January 2024 PST, its former managing director D. Gesevičius and insurers R&Q Syndicate Management Limited and Marco International Insurance Company Limited entered into a settlement arrangement, in accordance with which all court and arbitration proceedings regarding the civil liability of the former managing director D. Gesevičius and the related insurance payouts (all in connection with the fine imposed by the Competition Council of the Republic of Lithuania on 20 December 2017 (No. 2S-11 (2017)) shall be amicably discontinued. Pursuant to the executed settlement agreements, the insurers will pay PST EUR 1,200,000, and PST will waive (withdraw) all its claims against the insurers and the former managing director D. Gesevičius.

More information:

Tomas Stukas

Managing Director

Tel.: (+370 45) 505 503