Swedish local public transportation
company Storstockholms Lokaltrafik (SL) is suing Handelsbanken
Finans, Leasing Life has learned.

Stockholm-headquartered SL has launched the
legal action against Handelsbanken Finans, the leasing subsidiary
of Stockholm-based Svenka Handelsbanken, for what it called an
“unjustified raise in interest rates” in leasing agreements signed
between the two companies.

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The two organisations signed leasing
agreements for commuter trains, metro train cars and buses.

It is understood that the lessor raised
interest rates “without justification” in 2008, triggering a legal
reaction from the Swedish public transportation company, which is
suing Handelsbanken for a total of SEK20 million (€2 million).

An SL spokesman said: “We had an agreement
with Handelsbanken that we should pay interest of a certain level.
But after this agreement was made, the bank raised the level of the
interest.”

SL began its legal action against
Handelsbanken at the end of August 2009, and it is believed that a
court in Stockholm is about to start hearing the case, the
spokesperson added.

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A spokesperson for the Swedish lessor said:
“Handelsbanken does not ever discuss the specific client matter
with anyone but the client.”

He added: “What I can say is that it happens,
from time to time, that we do have a disagreement with our clients,
and in most cases we solve that disagreement.

“But on rare occasions we can’t find a
solution.”

“We think in those cases it is good if a third
independent party comes and looks at the matter to find a
solution.”

Antonio Fabrizio