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- Stock Exchange Release
- 18.04.2006 15:45 CET
KIINTEISTÖ OY VILHONKATU 7 AND YIT SEEK LEAVE TO APPEAL TO THE SUPREME COURT CONCERNING THE RULING O
STOCK EXCHANGE RELEASE APRIL 18, 2006 16:45
KIINTEISTÖ OY VILHONKATU 7 AND YIT SEEK LEAVE TO APPEAL TO THE SUPREME COURT CONCERNING THE RULING OF THE HELSINKI COURT OF APPEAL ON THE REFURBISHING OF VILHONKATU 7 IN 1999
In its ruling on February 14, 2006, the Helsinki Court of Appeal ordered Kiinteistö Oy Vilhonkatu 7 to pay compensation to YIT for the conversion and additional works involved in the refurbishing of SOKs former head office property in 1999 as well as the costs caused by the lengthening of the duration of the contract, with interest, and trial costs. On the basis of the ruling, SOK paid EUR 11.1 million to YIT on February 15, 2006. The amount will not be recognized in the result until the ruling becomes legally binding. Kiinteistö Oy Vilhonkatu 7 and YIT have on this day sought leave to appeal to the Supreme Court.
YIT has previously released stock exchange releases on the ruling of the Helsinki District Court in this case on February 24, 2003, and February 14, 2006.
For additional information, contact:
Ilpo Jalasjoki, President, YIT Construction Ltd, tel. +358 20 433 2692 Sakari Toikkanen, Executive Vice President, YIT Corporation, tel. +358 20 433 2336
YIT CORPORATION
Veikko Myllyperkiö Vice President, Corporate Communications
Distribution: Helsinki Stock Exchange, principal media, www.yit.fi