Market announcement
Arco Vara AS
LEI code
097900BHCB0000066171
Size of the entity
Small group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other price sensitive information
Unique data record identifier
2943
Submission date and time
09.11.2010 14:11:26
Content of announcement in Estonian
Title
09.09.2010: Arco võõrandas oma nõude Ühendatud Kapital AS vastu
Message
Arco Vara AS 100% tütarettevõte Arco Investeeringute AS võõrandas temale kuuluva nõude Celia Crowd AS (endise nimega Ühendatud Kapital AS) vastu AS-ile EMF Invest. Tehingu väärtus on 52 000 000 Eesti krooni (ca 3 323 406 Eurot) ning tehingu tulemusena tekib kontsernile 18 875 000 Eesti krooni (ca 1 206 332 Eurot) erakorralist kasumit. 2008 aastal andis Arco Investeeringute AS Sigma Real Estate Ltd-le laenu 10 000 000 USD. Laenu garanteeris AS Ühendatud Kapital. Kuna laenu ei tagastatud, esitas Arco 18.02.2009.a. hagi Eesti Kaubandus-Tööstuskoja Arbitraažikohtusse. Arbitraažikohtu 21.12.2009.a. otsusega kohustati Ühendatud Kapital AS-i tasuma Arcole põhivõlgnevus 10 000 000 USD, sellelt arvestatud intressid 906 666 USD, viivised 773 698,63 USD ning alates 22.12.2009.a. põhivõlgnevuselt arvutatud viivis 8% aastas, mis teeb 08.11.2010. a. seisuga 705 753,30 USD. Lisaks kohustati Ühendatud Kapitali AS tasuma arbitraažkohtu kulude hüvitis 1 099 417,20 Eesti krooni. Kokku on nõude summaks 08.11.2010.a. seisuga 137 868 170 Eesti krooni (ca 8 811 382 Eurot). Arco on nõude sissenõudmiseks alustanud erinevaid kohtumenetlusi sh taotlenud vahepeal varatuks muudetud Ühendatud Kapital AS pankrotti, samuti on Arco vaidlustanud Ühendatud Kapital AS-i varadega toimunud täitemenetluse erinevaid toimingud. Kokku on käesoleval hetkel Arcol pooleli 5 kohtumenetlust, mis on seotud Ühendatud Kapital AS-iga. Arvestades asjaoluga, et enamus kohtumenetlusi on kestnud peaaegu aasta ning olulisemates menetlustes ei ole jõutud veel I astme kohtulahendini, kestavad kohtumenetlused hinnanguliselt veel kolm kuni viis aastat. Võttes arvesse, et Ühendatud Kapital AS on vahepeal muutunud varatuks äriühinguks, ei ole ilmselgelt reaalne, et pankrotimenetluse käigus saaks Arco oma nõuet olulises ulatuses rahuldatud. Arco bilansis on juba 2009 aastal nõue Celia Crowd AS vastu alla hinnatud 3 000 000 USD väärtusele (ca 33 126 000 Eesti krooni, ca 2 117 137 Eurot). Arvestades eelmärgitut, pidas Arco juhatus majanduslikult otstarbekamaks võõrandada nõue. Arco Vara on Baltimaade üks juhtivaid kinnisvaraarenduse ettevõtteid, asutatud 1992. aastal. Ettevõtte põhitegevuseks on kinnisvaraarendus, mida toetavad enda kinnisvaravahendus ja hindamine, ehitus ning kinnisvarahaldus. Firmal on esindused 17 linnas Eestis, Lätis, Ukrainas ja Bulgaarias. Kontsernis töötab ca 160 inimest. 1 EUR=15,6466 EEK Lembit Tampere Juhatuse liige Arco Vara AS Tel: +372 614 4630 [email protected] http://www.arcorealestate.com/
Content of announcement in English
Title
09.09.2010: Arco sold its claim against Ühendatud Kapital AS.
Message
Arco Investeeringute AS, a 100% subsidiary of Arco Vara AS, transferred its claim against Celia Crowd AS (former name Ühendatud Kapital AS) to AS EMF Invest. The value of the transaction is 52,000,000 Estonian kroons (approx. 3,323,406 euro) as a result of which the group will earn an extraordinary profit in the amount of 18,875,000 Estonian kroons (approx. 1,206,332 euro). In 2008, Arco Investeeringute AS granted a loan of 10,000,000 USD to AS Sigma Real Estate Ltd. The loan was secured by AS Ühendatud Kapital. As the loan was not redeemed, Arco filed an appeal to the Court of Arbitration of the Estonian Chamber of Commerce and Industry on 18.02.2009. Based on the judgement of the Court of Arbitration of 21.12.2009, Ühendatud Kapital AS was obliged to pay to Arco the principal amount of 10,000,000 USD, the interests in the amount of 906,666 USD, the fine for delay in the amount of 773,698.63 USD and the annual fine for delay of 8% calculated from 22.12.2009, which amounts to 705,73.30 USD as of 08.11.2010. Besides that, Ühendatud Kapital AS was obliged to indemnify the costs of the Court of Arbitration in the amount of 1,099,417.20 Estonian kroons. As of 08.11.2010, the total claim amounts to 137,868,170 Estonian kroons (approx. 8,811,382 euro). Arco has initiated several legal proceedings for calling in the claim, including filing for bankruptcy of Ühinenud Kapital AS that had become a company without assets in the meantime; also, Arco has contested several procedures of execution proceedings with the assets of Ühendatud Kapital AS. In total, Arco has 5 ongoing court proceedings related to Ühendatud Kapital AS. Considering the fact that most of the court proceedings have been in process for almost a year and that in most important proceedings, no decision of the court of first instance has been achieved, the proceedings will estimatedly another three to five years. Considering the fact that Ühendatud Kapital AS has become a company without assets in the meantime, it is not likely that the claim of Arco will be satisfied to a considerable extent during the bankruptcy proceeding. In the Arco balance sheet, the 2009 claim against Celia Crowd AS has already been written down to a value of 3,000,000 USD (approx. 33,126,000 Estonian kroons, approx. 2,117,137 euro). Considering the above, the Management Board of Arco deemed it economically reasonable to transfer the claim. Established in 1992, Arco Vara is one of the leading property development companies in the Baltic countries. The main activity of the company is property development, supported by real estate brokerage and valuation, construction and property management. The company has offices in 17 cities in Estonia, Latvia, Ukraine and Bulgaria. The group employs approx. 160 people. 1 EUR=15.6466 EEK Lembit Tampere Member of the Management Board Arco Vara AS Tel: +372 614 4630 [email protected] http://www.arcorealestate.com/