2022-05-25 12:45:00 CEST

2022-05-25 12:45:07 CEST


Stockmann - Inside information

The Arbitration Court has today passed an arbitration decision in a dispute between Pirkanmaan Osuuskauppa and Stockmann

STOCKMANN plc, Inside Information 25.5.2022 at 13:45 EET

A decision has been received by the Arbitration Court in a dispute between
Stockmann and Pirkanmaan Osuuskauppa regarding damages for the termination of
the lease of business premises located in the department store in Tampere.

In 2021, Pirkanmaan Osuuskauppa initiated arbitration proceedings against
Stockmann, in which it claimed up to EUR 5.9 million in compensation for among
other things termination of subtenancy. Stockmann has denied the claim. The
Arbitration Court has in its arbitration decision mainly rejected the claims of
Pirkanmaan Osuuskauppa and ordered Stockmann to compensate Pirkanmaan
Osuuskauppa EUR 1.5 million in damages.

In February 2022, the Supreme Court granted Pirkanmaan Osuuskauppa leave to
appeal to the extent that the appeal concerns the claim for damages arising from
the termination of the sublease agreement are restructuring debt or debt that
has arisen during the corporate restructuring proceedings.Earlier court
instances have considered the potential claim to be a restructuring debt.

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



Jari Latvanen

Nasdaq Helsinki
Principal media