Luxembourg court freezes ČEZ stakes in gas firms over Diag Human case
USD 21,81
Popular
A Luxembourg court has issued two rulings that restrict the companies through which ČEZ owns the gas operator GasNet. This was reported by ČEZ itself. The rulings are linked to the Diag Human case, in which the company is demanding compensation from the Czech state.
ČEZ said a court bailiff in Luxembourg notified the group of two rulings. They concern Czech Gas Networks (CGN), in which ČEZ holds about 55 percent, and its wholly owned subsidiary Czech Gas Networks Investments (CGNI). CGNI, in turn, owns the Czech company Czech Grid Holding, which controls GasNet and GasNet Služby. ČEZ's majority owner is the state, with a stake of about 70 percent.
What has been frozen
According to the notification, the rulings restrict CGN and CGNI in handling assets belonging to the Czech Republic and ČEZ that these companies hold. The steps in Luxembourg are being taken by Diag Human in connection with the compensation it is demanding from the Czech Republic.
ČEZ considers both rulings unlawful and calls them “chicanery”, an abuse of rights. The company says Diag Human SE has no and never had any legal claim against ČEZ or other firms in the group. Any claims, if they exist at all, can only be directed at the state: ČEZ is not named in the arbitration award and was not a party to the proceedings.
The group will defend itself in court. Lawsuits will be filed in the coming days, and ČEZ expects the rulings to be overturned “within months”.
How the Diag Human case began
The story goes back to 1991, when the Ministry of Health announced a tender for processing blood plasma. A preliminary agreement was reached with Novo Nordisk and Conneco, which later grew into Diag Human. In 1992 the then minister Martin Bojar told Novo Nordisk that it had not won the tender, and the ministry's letter voiced doubts about Conneco's reliability.
Since then Josef Šťáva has been suing the Czech Republic. Last year a London court confirmed his claim. In January this year the website HlídacíPes.org reported that Diag Human had begun legal steps to collect the compensation and targeted two firms in which ČEZ holds a stake. At the time ČEZ told the ČTK agency that GasNet's operations were not affected.
Source: novinky.cz
