STOCKHOLM, Feb 06, 2017 /PRNewswire/ --
Through its subsidiary JM Entreprenad AB, JM performed contract work on current account in the amount of SEK 1.6bn between 2013 and 2016. The project has been approved in its entirety during final inspection. On December 31, 2016, JM's receivables for the project were SEK 395 million, excluding accrued interest on overdue payment. During the arbitration process, the counterparty has only conveyed its set-off claims, which means the purchaser's demand can reach a maximum of JM's total claim. JM's evaluation of the dispute has been conducted within the framework of the project's profit recognition. The evaluation was performed with the assistance of external guidance, and the provisions made are assessed to cover the assessed risk in the project.
For additional information, please contact:
Claes Magnus Åkesson,
Tel: +46 (0)8-782-89-71
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