Annual report 2010 - plazacenters

Financial statements
Notes to the consolidated financial statements
continued
Note 18 – Trade payables
December 31, December 31,
2010 2009
Currency €’000 €’000
Construction related Mainly in INR, PLN 10,812 19,210
Other trade payables 448 743
11,260 19,953
Note 19 – Related parties
December 31, December 31,
2010 2009
Currency €’000 €’000
EI Group – ultimate parent company – recharged EUR, USD 1,803 1,135
Other related parties* EUR 404 1,338
Former vice chairman of EI (refer to note 36) INR 1,164 625
EUL (parent company) EUR, USD 387 136
3,758 3,234
* Liability to Control Centers group, a group of companies which provides project consulting and supervision services and controlled by the ultimate parent company’s
controlling shareholder.
For payments (including share-based payments) to related parties refer to note 38. Transactions with related parties are priced at
an arm’s-length basis.
Note 20 – Provisions
Provision in respect Provision in respect
of liability to of liability due to
governmental selling of trading and
institution* investment property Total
€’000 €’000 €’000
Current provisions
Balance at January 1, 2010 15,834 471 16,305
Provision used during the period (237) (471) (708)
Balance at December 31, 2010 15,597 – 15,597
* The Group’s provision relates to liability with the Romanian government. The provision is expected to be settled by 2013.
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Plaza Centers N.V. Annual report 2010