Skanska motions for a legal review of the judgements on leasing of aircraft
As has previously been announced, the Swedish Supreme Administrative Court on 24th June 1998 disallowed depreciation deductions in connection with aircraft leasing.
Skanska motions for a legal review of the judgements on leasing of aircraft
As has previously been announced, the Swedish Supreme Administrative Court on 24th June 1998 disallowed depreciation deductions in connection with aircraft leasing.
The company has in conjunction with the other parties involved, Sandvik and Stora, made an extensive analysis of the judgements and decided to motion for a legal review of the judgements by the Supreme Administrative Court.
The Supreme Administrative Court has based its decision primarily on a specific clause of the lease agreement. However, the Court did not take the contents of the whole clause into consideration. If this had been the case, the Court would - in the company's opinion - not have come to the same conclusion. The Court did not allow the parties to express their opinions on the meaning and function of the clause. The lower courts have not discussed the clause in their judgements and the National Tax Board has not put forward any argument in respect of the clause. The company believes that it could have prevented the Supreme Administrative Court's misinterpretation of the clause if it had got the opportunity to express its view before the judgements were given. Since there are also other shortcomings with respect to the Supreme Administrative Court's interpretation of the relevant agreements, the companies have concluded that there are grounds for a legal review by the Court.
Although it is very unusual to require a legal review of a judgement by the Supreme Administrative Court, the companies have - after having received opinions from legal scholars - decided to require such a review.
Danderyd, October 22, 1998
SKANSKA AB Corporate Communications
For further information, contact: Staffan Schéle, Corporate Finance and Investor Relations Skanska AB, Tel +46 8 753 88 00
This and previous press releases are also available on http://www.skanska.com