Market announcement

Title

CORRECTION: 10.02.2015: Arco Investeeringute AS reached a compromise with Compakt Capital OÜ

Message

CORRECTION: On 16 December 2014, Compakt Capital submitted an appeal against
the Harju County Court’s decision which was accepted by Tallinn Circuit Court 2
January 2015 ruling. 

On 17 December 2013, Arco Investeeringute AS submitted to Harju County Court a
claim against Compakt Capital OÜ in the amount of 127,824 euros based on a
contract concluded between the counterparties (see Arco Vara AS’s announcement
on 5 May 2014). On 17 November 2014, Harju County Court decided to satisfy the
claim of Arco Investeeringute AS, i.e. ordered Compakt Capital OÜ to pay Arco
Investeeringute AS 127,824 euros as main claim and interest in the amount of
13,146 euros. On 16 December 2014, Compakt Capital submitted an appeal against
the Harju County Court’s decision which was accepted by Tallinn Circuit Court 2
January 2015 ruling. 

On 5 February 2015, counterparties reached a compromise according to which
Compact Capital OÜ agreed to pay Arco Investeeringute AS 120,000 euros and in
return Arco Investeeringute AS agreed to waive all the claims against Compakt
Capital OÜ based on the contract concluded between the counterparties. On 6
February 2015, the compromise was confirmed by court’s ruling which is in force
as of today, i.e. 10 February 2015, and cannot be appealed. 




         Evelin Kanter
         Head of Legal Department
         Arco Vara AS
         Tel: +372 614 4594
         [email protected]
         http://www.arcorealestate.com