Market announcement
AS Pro Kapital Grupp
LEI code
097900BGM10000061519
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
8026
Submission date and time
18.05.2020 14:35:00
Content of announcement in Estonian
Title
Kommentaar Sixth Street Partnerite ja Lintgen Adjacent Investments S.à r.l pressiteatele T1 Mall of Tallinn restruktureerimise kohta
Message
AS Pro Kapital Grupp on teavitanud tütarettevõtte AS-i Tallinna Moekombinaat suhtes saneerimismenetluse algatamisest 03. aprilli 2020 Harju Maakohtu määrusega. 7. mail 2020 esitas AS Tallinna Moekombinaat saneerimiskava võlausaldajatele tutvumiseks ning seisukoha edastamiseks. Enamus võlausaldajatest on juba hääletanud saneerimiskava poolt. TPG Sixth Street Partners ja Lintgen Adjacent Investments S.à r.l (edaspidi TPG Sixth Street Partners) avaldasid 18. mail 2020 pressiteate, milles teatasid, et hääletavad AS-i Tallinna Moekombinaat saneerimiskava vastu ning kutsusid üles ka teisi võlausaldajaid kava vastu hääletama. TPG Sixth Street Partners ei ole käitunud heas usus AS-i Tallinna Moekombinaat ning ettevõtte võlausaldajate, üürnike ja koostööpartnerite suhtes. Eksitavast avalikust pressiteatest on selgunud, et TPG Sixth Street Partnersi eesmärk on nurjata AS-i Tallinna Moekombinaat saneerimiskava vastu võtmine ja viia AS Tallinna Moekombinaat pankrotti. TPG Sixth Street Partnersi tegevus kahjustab AS-i Tallinna Moekombinaat äritegevust ja seetõttu kõigi võlausaldajate huve. TPG Sixth Street Partners on vältinud AS-i Tallinna Moekombinaat ja saneerimisnõustaja püüdlusi pidada nendega läbirääkimisi seoses saneerimiskavaga. TPG Sixth Street Partners on oma pressiteates jätnud mainimata ja täpsustamata järgmist: TPG Sixth Street Partners nõue on pandiga tagatud ja AS-i Tallinna Moekombinaat pankroti korral oleks ta üks vähestest võlausaldajatest, kes saaks oma nõudele mingit rahuldust ja saaks seda suurimas ulatuses. Kõik ülejäänud võlausaldajad, kelle nõuded on tagamata, ei saaks AS-i Tallinna Moekombinaat pankroti korral oma nõuetele mitte mingisugust rahuldust. Seetõttu on saneerimiskava, mis näeb ette tagamata nõuetega võlausaldajatele 40% nõuete tasumist tegelikult kõigi tagamata võlausaldajate huvides, vastupidiselt TPG Sixth Street Partnersi väidetule. TPG Sixth Street Partnersi enneolematu avalik üleskutse kõigile teistele võlausaldajatele ei ole seega midagi muud kui katse sundida ASi Tallinna Moekombinaat saneerimiskava nurjumisele ja tagada TPG Sixth Street Partnerite huvi võimalikult suures ulatuses, tehes seda AS-i Tallinna Moekombinaat tagamata nõuetega võlausaldajate arvelt, kellele pankrotimenetluses peaaegu midagi ei laekuks. Seadus on ette näinud võimaluse, et üks suur pahatahtlik võlausaldaja võib proovida takistada saneerimist oma isiklike huvide eesmärgil ning on võimaldanud kohtul sellise võlausaldaja tegevusele vaatamata saneerimist jätkata. Saneerimine hõlmab üksnes AS-i Tallinna Moekombinaat ega oma vahetut mõju AS-i Pro Kapital Grupp kontserni teistele ettevõtetele. AS-i Pro Kapital Grupp kontserni ettevõtted ei ole taganud AS-i Tallinna Moekombinaat kohustusi. Allan Remmelkoor Juhatuse liige +372 614 4920 [email protected]
Content of announcement in English
Title
Comment to Sixth Street Partners and Lintgen Adjacent Investments S.à r.l press release concerning the restructuring of T1 Mall of Tallinn
Message
AS Pro Kapital Grupp has notified about the initiation of reorganization proceedings of its subsidiary AS Tallinna Moekombinaat by the ruling of the Harju County Court issued on 3 April 2020. On 7 May 2020 AS Tallinna Moekombinaat presented the reorganization plan to the creditors for review and formation of position. The majority of the creditors have already voted in favor of the reorganization plan. On 18(th) of May 2020 TPG Sixth Street Partners and Lintgen Adjacent Investments S.à r.l (hereinafter TPG Sixth Street Partners) issued a press release stating they will vote against the restructuring plan of AS Tallinna Moekombinaat and called other creditors to also vote against the plan. TPG Sixth Street Partners has not been acting in good faith towards AS Tallinna Moekombinaat and its creditors, tenants and collaboration parties. By making a misleading public press release it has become apparent that TPG Sixth Street Partners goal is to make the restructuring plan of AS Tallinna Moekombinaat fail and force AS Tallinna Moekombinaat into bankruptcy. TPG Sixth Street Partners actions are harming the business of AS Tallinna Moekombinaat and therefore interest of all creditors. TPG Sixth Street Partners has been avoiding AS Tallinna Moekombinaat and the restructuring advisor's attempts to have any dialog with them concerning the restructuring plan. TPG Sixth Street Partners fails to mention or clarify in their press release the following: TPG Sixth Street Partners is a secured creditor and in case of bankruptcy of AS Tallinna Moekombinaat it would be one of the very few creditors who would receive any satisfaction to its claims and to the largest extent. All other unsecured creditors would not receive anything in case of bankruptcy of AS Tallinna Moekombinaat. Therefor the restructuring plan which foresees payment of 40% of unsecured claims to the creditors is actually in the interest of all unsecured creditors, contrary to what TPG Sixth Street Partners claims . TPG Sixth Street Partners unprecedented public call to all other creditors is therefore nothing more than an attempt to force the restructuring plan of AS Tallinna Moekombinaat to fail and to secure TPG Sixth Street Partners interest to the fullest extent possible, doing so at the expense of other unsecured creditors of AS Tallinna Moekombinaat, who would receive almost nothing in the bankruptcy proceedings. The law has foreseen the possibility that a large bad faith creditor might try to block restructuring for its personal interests and enabled the court to overrule such creditor's attempts. The reorganisation process involves only AS Tallinna Moekombinaat and has no direct influence to any other group company of AS Pro Kapital Grupp. None of the companies in AS Pro Kapital Grupp concern have secured any liabilities of AS Tallinna Moekombinaat. Allan Remmelkoor Member of the Board +372 614 4920 [email protected]