WINNIPEG – Craig Wireless’ Greek operating subsidiary, CWS Hellas, has filed a formal response to refute allegations made against it by Lannet Communications.
CWS Hellas received a notice of arbitration proceedings at the end of July, and said then that “the basis for the arbitration claim is completely unfounded and without merit”.
At issue is a wholesale agreement between CWS Hellas and Lannet in Greece. Lannet filed for bankruptcy protection in 2008 in Greece, and had its shares suspended from trading on the Athens Stock Exchange.
"We are surprised and disappointed by the actions of Lannet in this matter,” said Boyd Craig, co-executive chairman and co-CEO, in a statement made last month. “Craig Wireless believes the arbitration claim to be a baseless attempt to hold our subsidiary Craig Wireless Hellas S.A. responsible for Lannet’s own operational, managerial and financial deficiencies."
