Eimskip's Legal Response to Alcoa's Summons
Eimskipafélag Íslands hf. has recently been summoned by Alcoa Fjarðaál sf., along with associated companies Samskip hf., Samskip Holding B.V., and Eimskip Ísland ehf. The summons outlines a substantial claim of ISK 3,086,000,000, along with penal interest dating from May 24.
Details of the Financial Claim
The financial claim targets all named companies jointly, referencing alleged losses related to the decision made by the Icelandic Competition Authority, specifically decision number 33/2023. This ruling pertains to allegations concerning actions taken between the years 2008 and 2013.
Consulting Firm's Assessment
The basis of Alcoa's claim is a preliminary assessment from the consulting firm Analytica ehf., documented in a report dated February 21. As part of the proceedings, the consulting firm Hagrannsóknir sf. has conducted a thorough review of Analytica’s memorandum.
Expert Opinions on the Allegations
Led by distinguished scholars dr. Birgir Þór Runólfsson and dr. Ragnar Árnason, the Hagrannsóknir team concluded that Analytica's report is fundamentally flawed. Their evaluation suggests that the shortcomings are so extensive that the memorandum cannot be regarded as a valid basis for assessing the alleged losses claimed by Alcoa.
Company's Position on the Allegations
Eimskip asserts that the claims presented by Alcoa lack merit, notably saying that the essential elements of tort law are not met. The company stresses that there are no established documentation or evidence supporting the alleged loss that Alcoa claims.
Defensive Measures and Future Actions
In light of these developments, Eimskip has retained legal counsel to mount a robust defense against Alcoa’s claims. The Company’s management maintains a solid stance against the allegations, aiming to clear the Company’s name and safeguard its interests.
Access to Additional Information
The report prepared by Hagrannsóknir was disclosed during Eimskip’s recent Q2 investor meeting. This critical report is accessible in its original language for stakeholders and interested parties.
Contact Information
For more insights regarding this issue, interested parties may reach out to Edda Rut Björnsdóttir, the Executive Vice President of Human Resources & Communications at tel: +354 825-3399. Additionally, Guðbjörg Birna Björnsdóttir, the Head of Investor Relations, is available at tel: +354 844-4752 or via email at investors@eimskip.is.
Frequently Asked Questions
What is the basis for Alcoa's financial claim against Eimskip?
Alcoa's claim is based on alleged losses outlined in a preliminary assessment by Analytica ehf., dated February 21.
How has Eimskip responded to the summons?
Eimskip has stated that the claims are baseless and has instructed its legal counsel to defend against them.
What conclusions were drawn from the Hagrannsóknir report?
The report indicated that Analytica’s memorandum contains significant flaws, rendering it unusable for assessing losses.
Which companies are involved in this legal matter?
The summons involves Eimskipafélag Íslands hf., Samskip hf., Samskip Holding B.V., and Eimskip Ísland ehf.
Who can I contact for more information about Eimskip?
For inquiries, you can contact Edda Rut Björnsdóttir or Guðbjörg Birna Björnsdóttir at their provided phone numbers or via email.
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