The Supreme Court has today passed its decision in a dispute between Pirkanmaan Osuuskauppa and Stockmann

STOCKMANN plc, Inside Information 8.12.2022 at 14:00 EET

 

A decision of the Supreme Court has been received today regarding a lawsuit between Stockmann and Pirkanmaan Osuuskauppa regarding damages for the termination of the lease of a business premises located in the Tampere department store. In its decision, the Supreme Court rejected Pirkanmaan Osuuskauppa's appeal and stated that Pirkanmaan Osuuskauppa's claim for damages based on the premature termination of the subtenancy relation is restructuring debt pursuant to the Restructuring Act, which was also the position of the Helsinki District Court, the Helsinki Court of Appeal and the supervisor, Attorney Jyrki Tähtinen.

 

Pirkanmaan Osuuskauppa, the former subtenant of the Tampere department store, appealed regarding the decision of Helsinki District Court on 9 February 2021 to certify Stockmann’s restructuring programme to the extent that Helsinki District Court viewed that the damages payable to Pirkanmaan Osuuskauppa are restructuring debt instead of debt that has arisen after the application for restructuring proceedings came into force pursuant to section 32 of the Restructuring Act. The Helsinki Court of Appeal rejected Pirkanmaan Osuuskauppa’s appeal in its court decision on 4 November 2021.

 

According to the Supreme Court's decision announced today, Pirkanmaan Osuuskauppa's claim for damages, EUR 1.5 million, from Stockmann is a reconstructing debt to be taken into account in Stockmann's corporate restructuring pursuant to section 27 subsection 1 and 4 of the Restructuring Act, and there is therefore no reason to change the outcome of the Helsinki Court of Appeal previous decision.

 

Further information:
Jukka Naulapää, Chief Legal Officer, tel. +358 9 121 3850

 

www.stockmanngroup.com

 

STOCKMANN plc

 

Jari Latvanen
CEO

 

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