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Court decision: Prisma is not obligated to forcibly reopen a supermarket inLinnamäeKeskus

Судебное решение: Prisma не обязана насильно снова открывать супермаркет в Linnamäe Keskus

On January 20 January Kharyu County Court decided on a precedent-setting commercial dispute between Prisma and L95 OÜ, which has lasted more than a year. The Court rejected the claim L95 OÜ, confirming that Prisma is not obliged to reopen a supermarket in Linnamäe Keskus.”We are pleased with the judgment of the court, as keeping a supermarket in Linnamäe Keskus would be extremely unsustainable and would lead to huge volumes of food waste. We are prepared to pay the rental payment to L95 OÜ until the expiration of the lease contract and hope, that now this commercial
dispute will remain in the president of Prisma in Estonia Teemu Kilpia.” The issue is about an exclusive for Estonian retail trade dispute, in which a large trade chain is attempting to leave a store center before the end of a long-term contract lease. Prisma was the anchor tenant in Linnamäe Keskus, occupying about 80%
of the total area of the center in 4529 square meters. The term of the contract should have been completed only the second half of 2029 year. But in the spring of 2023 year Prisma began to slowly discontinue activities in Linnamäe
Keskus, turning it into an outlet and reducing the trading square area from 3500 to 840 square meters. The owners of Center L95 considered this a violation of the contract, which resulted in the attendance of the Center dropping by 65-70%. The dispute
also lead to the filing of a bankruptcy petition. In August 2023 year the company L95 OÜ filed the bankruptcy of Prisma, citing the debt of more 225 000 euros and the lossy economic activities of Prisma. Prisma itself has called the bankruptcy filing an unjustified pressure measure. The Drileht published on 4 Septemberlast year, that the judgment of
the court could create a precedent in the market of the real estate in Estonia. Owners of trade centers have expressed concerns that if it becomes difficult to enforce long-term lease agreements, this

couldleadtoincreasedrentalratesinthefutureandmakebanksmorecautiousinfinancingtradingcenters.PrismaPeremarketispart ofS-Group,the largestretailnetworkin Finland.TodayPrismahaseighthypermarketsandfivesupermarketsinEstonia,as well asplanstoopenhypermarketsinViljandiandKuressaare.

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