AI Airports International Limited

EANS-News: AI Airports International Limited
Hearing in the arbitration proceedings against Meinl Bank postponed

@@start.t1@@--------------------------------------------------------------------------------   Corporate news transmitted by euro adhoc. The issuer/originator is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@


St Helier, Jersey, Channel Islands (euro adhoc) - Hearing in the arbitration proceedings against Meinl Bank postponed

Jersey, 27 November, 2010. AI Airports International Limited ("AI") received the resignation of the chairman of the Austrian Arbitration tribunal on 25th November. The tribunal was scheduled to begin the proceedings on Monday, 29th November, to decide the EUR 32 million case against Meinl Bank for excessive PMMA fees related to the AI IPO.

The resignation was a result of an allegation by Meinl Bank AG that the chairman may be biased due to a potential conflict of interest. Meinl Bank raised the allegation earlier this week, just a few days before the start of the hearing. AI is determined to proceed with the hearings in due course.

The remaining arbitrators, who initially appointed the chairman, will now appoint a new chairman and re-schedule the hearing. The procedure for the appointment of the new chairman and the re-scheduling of the hearing will likely take several months. A further update as to the revised arbitration date will be provided in due course. At this time, AI expects that the hearing will likely take place in spring 2011.

@@start.t2@@end of announcement                                                 euro adhoc

Further inquiry note: Investor Relations and Public Relations Metrum Communications GmbH

Mick Stempel T: +43 1 504 69 87-385 M:  

Michaela Lipa T: +43 1 504 69 87-341 M:

Branche: Real Estate
ISIN:      AT0000A053N4
Index:    other listings
Börsen:  Wien / Third Market

Weitere Meldungen: AI Airports International Limited

Das könnte Sie auch interessieren: