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The real estate company had already been ordered to pay the solar energy group for using a similar brand name.
EFE
A court in Alicante has ordered to seize assets and property rights of Quabit (formerly Astroc, then Affirma) worth 1.429 million euros to cover the compensation that Quabit was forced to pay for the dispute it has with Affirma. The Commercial Court No. 2 of Alicante property was condemned to pay 1.093 million euros to the Affirma group dedicated to solar energy and legal services, for using a trademark and business name "virtually identical".
According to the sentence, dated May 3 to which Efe has had access, to this figure the sum of 336. 546 euros is added for the costs and interest due, and both parties agree on the provisional execution of the sentence that requires Quabit to indemnify Affirma. For their part, Quabit sources state the amount referred in the sentence is "immaterial" in relation to their market capitalization and financial results, and it is "fully provisioned".
The court has required Quabit that, within a maximum of ten days, to provide a list of all their assets and rights "sufficient" to cover the amount of payment in the execution of the sentence.
It also requests to explain if there are "encumbrances" and that, in case of possession of property, if they are being used or occupied, and if so with how many people and with what rights. In addition, the court warned that real estate company may be imposed with sanctions, at least for serious disobedience, if it does not present a detail account of their assets, including those assets indirectly belonging to them, excluding those which are susceptible to seizure, and reveal charge burdens or encumbrances that weigh upon them.
The court rules that this sentence is final without appeal, and stressed that, since it is executing a "monetary condemnation" the president Felix Abánades of the real estate company may not object to the provisional execution.
Affirma recalled yesterday a month has passed since they asked for the provisional execution of the sentence to carry out the seizure of the assets of Quabit.
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