Panevezio Statybos Trestas

Legal Proceedings Report • Mar 24, 2023

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Panevezio Statybos Trestas - Notification on material event

PST to seek insurance payout based on civil liability insurance

Panevezio statybos trestas, AB (PST) has made a decision to initiate legal proceedings (arbitration) regarding insurance payout and compensation of other related damages from the insurers. These legal proceedings will also include former PST managing director Dalius Gesevicius, who held this position until June 2020 – his civil responsibility was covered by the D&O (directors and officers) liability insurance with maximum payout of 5 million euros stated in the contract.

PST will demand an insurance payout and compensation for the damages incurred by the fine imposed by the Competition Council of the Republic of Lithuania on 20 December 2017 (No. 2S-11 (2017)), as well as other related expenses on that matter (interest, litigation expenses, etc.).

For more information:

Egidijus Urbonas

Managing Director

Tel.: (8-45) 505 503