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PCB | October 13, 2006

French court re-register Aspocomp's appeal

In the case against the former employees of Aspocomp S.A.S., the French Supreme Court has re-registered Aspocomp's appeal for further proceedings on October 11, 2006.
All except one of the former employees gave their consent for the re- registration. Aspocomp placed a security against the consent to secure its potential payment obligations under the First Appellate Court decisions. Aspocomp has paid a compensation of 30,702 euro to one employee in accordance to the decision of the First Appellate Court. In case the Supreme Court annuls the decision of the First Appellate Court, Aspocomp will have the right to reclaim the compensation. The decision of the Supreme Court is expected during the spring of 2007. As described in the Aspocomp's interim report of August 9, 2006, the French Supreme Court withdrew Aspocomp's appeal from its list of pending cases in December 2005. The decision was based on the fact that Aspocomp has not paid the compensation of approximately EUR 11 million to the former employees as ruled by the First Appellate Court on March 22, 2005. According to French legislation, a decision of the appellate court, i.e. the lower court, must normally be executed although an appeal has been formed.
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