![Dispute between Glaston and customer proceeding to arbitration Dispute between Glaston and customer proceeding to arbitration](/sites/default/files/styles/6/public/news/2019/Glaston%20logo_1_1.jpg?itok=rcOPXSs2)
Date: 3 September 2019
The customer claims the contract to be terminated and a compensation of approximately EUR 3.5 million, which would cover the acquisition price of the machine as well as, mainly indirect, damages caused to the customer. In addition, as a consequence of the termination of the contract, the ownership of the machine would be transferred back to Glaston. Glaston denies the customer’s claims and finds them unfounded.
The contract includes a limitation of liability concerning indirect damages and termination of the contract is only possible due to a material breach of contract. Based on the claim Glaston makes a provision of EUR 0.3 million. The issue has no impact on the company’s full-year 2019 guidance.
The arbitration will take place in Helsinki and Finnish law applies to the contract. Glaston estimates, that a resolution to the dispute is expected approximately during the first half of year 2020.
![](http://www.glassonweb.com/sites/default/files/styles/6/public/news/2019/Glaston%20logo_1_1.jpg?itok=rcOPXSs2)
![](/themes/custom/glassonweb/images/glassonweb.png)
Add new comment