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Mamut ASA: Appeal from 24SevenOffice unanimously denied by the Supreme Court

2009-03-02 14:39:00
Ticker Giełda ISIC Kraj Miasto
MAMUT XOSL Data base activities Norway OSLO




The Appeals Committee of the Supreme Court has unanimously denied the

appeal from 24SevenOffice over the unanimous verdict from Borgarting

Court of Appeal of December 2008 where 24SevenOffice lost on all

counts in the dispute between 24SevenOffice and Active 24.

24SevenOffice has been ordered to cover all Active 24's cost after

unanimous loss on all counts in the Oslo District Court and in

Borgarting Court of Appeal.



"We are very pleased that the case has been denied by the Supreme

Court and we will immediately claim payment of the amount on

approximately MNOK 2.4 which Active 24 has been awarded in legal

costs. We will now focus on assessment of damages in the cross action

that Active 24 has initiated and won both in the Oslo District Court

in December 2007 and Borgarting Court of Appeal," states Eilert

Hanoa, CEO of Mamut.





Background

Mamut's wholly-owned subsidiary, Active 24, received a writ from

24SevenOffice in March 2007. Active 24 has all the time disputed that

there was any basis for termination of the cooperation agreement

between the parties and have argued that 24SevenOffice had no grounds

to claim compensation from Active 24. Active 24 instead requested a

ruling confirming that 24SevenOffice was liable for Active 24's

losses resulting from 24SevenOffice's unlawful termination of the

co-operation.



In order for the matter to be resolved as quickly as possible, Mamut

and Active 24 made a settlement offer to 24SevenOffice in January

2007 that reflected Active 24's view on the case. The settlement

offer entailed no payments from Active 24 or Mamut. The offer was

turned down and the case ended up in the courts. 24SevenOffice lost

the case unanimously on all counts in the Oslo District Court in

December 2007.



24SevenOffice appealed the unanimous decision by the Oslo District

Court and the case was brought before the Borgarting Court of

Appeal. 24SevenOffice once again unanimously lost on all counts in

the Court of Appeal and 24SevenOffice was ordered to cover Active

24's costs in connection with the disputes in the District Court and

as well as in the Court of Appeal. It was ruled by both the District

Court and the Court of Appeal that 24SevenOffice was liable for the

loss suffered by Active 24 in connection with the unlawful

termination. The amount of the loss has not been determined.

24SevenOffice appealed the unanimous verdict from the Borgarting

Court of Appeal, but the appeal was unanimously denied by the Appeals

Committee of the Supreme Court. .



Prior to the appeal to the Supreme Court, 24SevenOffice reported NOK

4 553 917.93 as its own costs, while Active 24 has reported NOK 2 355

405. In the unanimous ruling from the Borgarting Court of Appeal it

was stated that all costs, including court fees and fees for expert

lay judges, were to be paid by 24SevenOffice.





This announcement was originally distributed by Hugin. The issuer is

solely responsible for the content of this announcement.

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