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
3989
Submission date and time
11.04.2013 18:31:38
Content of announcement in Estonian
Title
Danske Bank esitas avalduse Arco Investeeringute pankroti väljakuulutamiseks
Message
04.02.2013 teatas Arco Vara börsile, et Danske Bank A/S-i pangalaenu sissenõudmiseks on alustatud täitemenetlus Arco Vara AS-i 100%-lise tütarettevõte Arco Investeeringute AS-i 50%-se osalusega ühisettevõtte Arco HCE OÜ suhtes. Täitemenetluse objektiks oli Danske Bank A/S-i kasuks seatud hüpoteek kinnistule Ahtri 3. 20.02.2013 rahuldas kohus Arco HCE OÜ hagi tagamise taotluse ja peatas täitemenetluse ettevõtte suhtes. Koos hagi tagamise taotlusega esitas Arco HCE OÜ hagi Danske Bank A/S-i vastu kohustamaks Danske Bank A/S-i pikendama laenulepingut. Kuna Arco Investeeringute AS on käendanud Arco HCE OÜ pangalaenu summas 1 917 349,46 eurot, esitas Danske Bank A/S Arco Investeeringute AS-ile nõude käenduse tasumiseks. Arco Investeeringute AS vaidlustas käenduse sissenõude, tuginedes lihtsustatult asjaolule, et kui laen ei ole sissenõutav, ei ole ka käendus sissenõutav. Seoses sellega on Danske Bank A/S esitanud omalt poolt avalduse Arco Investeeringute AS-i pankroti väljakuulutamiseks. Arco Investeeringute AS jääb seisukohale, et alus käenduse sissenõudmiseks puudub ja vaidlustab pankrotiavalduse. Arco HCE OÜ osalus jaguneb võrdselt Arco Investeeringute AS-i ja Ahtrimaa OÜ (endise nimega U.S. Real Estate Management OÜ) vahel. Egert Paulberg Finantskontroller Arco Vara AS Tel: +372 614 4503 [email protected]
Content of announcement in English
Title
Danske Bank files a bankruptcy petition against Arco Investeeringute AS
Message
On 4 February 2013, Arco Vara announced to the stock exchange that in order to recover a loan Danske Bank A/S had initiated enforcement proceedings against Arco HCE OÜ, which is a 50% joint venture of Arco Investeeringute AS that is a wholly-held subsidiary of Arco Vara AS. The object of the proceedings was to exercise a mortgage created for the benefit of Danske Bank A/S on a property located at Ahtri 3 in Tallinn. On 20 February 2013, the court satisfied ARCO HCE OÜ’s application for securing the action and suspended the enforcement proceedings against the company. Together with the application for securing the action, Arco HCE OÜ filed an action against Danske Bank A/S seeking that Danske Bank A/S extend the loan agreement. Since Arco Investeeringute AS has provided a surety guarantee to Arco HCE OÜ’s bank loan, Danske Bank A/S sent Arco Investeeringute AS a claim for paying out the guarantee, which extends to 1,917,349.46 euros. Arco Investeeringute AS challenged the claim for paying out the surety guarantee. In simplified terms, the basis for the challenge was that if the loan cannot be called in, then the surety guarantee cannot be called in either. In response, Danske Bank A/S filed a petition for declaring Arco Investeeringute AS bankrupt. Arco Investeeringute AS is of the opinion that there is no basis for calling in the surety guarantee and intends to challenge the bankruptcy petition. The shares in Arco HCE are held, in equal proportions, by Arco Investeeringute AS and Ahtrimaa OÜ (former name U.S. Real Estate Management OÜ). Egert Paulberg Financial Controller Arco Vara AS Tel: +372 614 4503 [email protected]