The FINANCIAL — In response to the Competition Authority’s prescription of 10 October 2011 which instructed the Company to submit a tariff application for reducing its current tariffs by 29% by 14 November 2011 at the latest, on 9 November 2011 the company submitted to the Tallinn Administrative Court an application for an injunction, asking the court to suspend the validity of the prescription until the Court delivers a judgment regarding the associated complaint contesting the prescription.
On 11 November the Tallinn Administrative Court informed the Company that it had temporarily suspended the fulfilment of the Competition Authority’s prescription until 19 December 2011. The Competition Authority has requested that the Court extend the deadline to submit their position until 30 January 2012.
The Court has approved this request and as a consequence the fulfilment of the prescription is suspended until 6 February 2012. The Court will then make a final decision on whether or not to grant the injunction and suspend the validity of the prescription until the Court delivers a judgment regarding the complaint on the 2010 tariffs, or the Court will uphold the CA’s prescription and temporary tariffs may be imposed on the Company.