Skip to main content

Baltman OÜ and Kalaport OÜ reached compromise agreement in a court dispute

Written by Customer Service on . Posted in Public Companies.

Baltman OÜ, a subsidiary of AS Baltika, and Kalaport OÜ entered into a compromise on January 5, 2023, which ended the legal dispute regarding the lease agreement for the Ivo Nikkolo store located at Suur-Karja 14 in Tallinn’s old town, which began in early 2021, by agreement between the parties. The content of the dispute is described in more detail in the stock exchange announcement published by AS Baltika on 09.02.2021.

With the compromise, both Kalaport OÜ and Baltman OÜ mutually waived all claims and Baltman OÜ will continue to fulfill the lease agreement, taking into account the differences agreed in the compromise, from 01.02.2023. The parties have agreed that the terms of the compromise agreement are confidential.

“We are glad that after a long legal dispute we reached a compromise that satisfies both parties, which gives us the opportunity to reopen the Ivo Nikkolo brand store in the old town of Tallinn. In our opinion, the Suur-Karja store has continued great business potential, and the reopening of the Ivo Nikkolo store in its legendary location will help us even better reach people visiting Tallinn from abroad, who have already very well found our flagship store opened in the Rotermann Quarter and have become our customers,” said Brigitta Kippak, Chairman of The Management Board of AS Baltika.

At the moment, the compromise has not yet entered into force, and the court will decide on its approval with a ruling. When the compromise is approved, the court also ends the proceedings.

Brigitta Kippak
Chairman of The Management Board, CEO
brigitta.kippak@baltikagroup.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.