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

www.stockmanngroup.com

STOCKMANN plc

Jari Latvanen
CEO

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