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 December 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
evelin.kanter@arcovara.ee
http://www.arcorealestate.com