The first payment of EUR275m has now been received by DPTG
and Nordea has confirmed that the second payment of EUR275m has been deposited in an escrow account with the bank.
has filed for attachment of cash flows from US telecommunication operator AT&T (NYSE:T) to TPSA.
The prejudgement effectively freezes the assets of TPSA Finance and is one of several initiatives taken by DPTG
to collect the DKK2.
Last Friday, the arbitration tribunal in Vienna ruled that DPTG
should receive DKK2bn plus interest for the period from 1994 to mid-2004 (phase 1).
The arbitration case against TPSA was initiated by DPTG
in 2001 due to lack of profit sharing by TPSA.
Polish company DPTG
(Danish Polish Telecommunications Group I/S), which is 75% owned by GN Store Nord, launched enforcement proceedings against Polish operator Telekomunikacja Polska SA (TPSA) in the Netherlands last year in a dispute concerning the determination of traffic volumes carried via the NSL fibre optical telecommunications system in Poland.
Under the ruling from an Arbitration Tribunal in Vienna, Austria, DPTG
is entitled to 14.
On 6 September 2010, Danish Polish Telecommunications Group I/S, or DPTG
, which is a 75/25 joint venture of GN Store Nord and local telco TDC A/S (CPH: TDC), was awarded DKK2.
GN Store Nord A/S, a Danish developer of telecom network performance monitoring and hands-free communications solutions, said that DPTG
intends to start enforcement proceedings to recover the proceeds.
lt;/p><p>Under the ruling from the Arbitration Tribunal in Vienna, Austria, DPTG
is entitled to 14.
On 3 September 2010, the arbitration tribunal in Vienna ruled that DPTG
would receive DKK2bn plus interest for the period from 1994 to mid-2004 (phase 1).
Due to developments in the case, DPTG
I/S has increased its claim to DKK5bn for the period from 1994 to mid-2005.