{"id":3177,"date":"2024-07-09T17:00:32","date_gmt":"2024-07-09T14:00:32","guid":{"rendered":"https:\/\/eref.ee\/?p=3177"},"modified":"2024-07-12T09:24:07","modified_gmt":"2024-07-12T06:24:07","slug":"termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant","status":"publish","type":"post","link":"https:\/\/eref.ee\/en\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\/","title":{"rendered":"Termination of the lease agreement with the tenant of two of the fund&#8217;s subsidiaries and reorganisation of the tenant"},"content":{"rendered":"<p>On 08.07.2024, the fund&#8217;s subsidiaries EfTEN Seljaku O\u00dc and EfTEN T\u00e4hesaju tee O\u00dc submitted notices to the tenant &#8211; the Hortes joint-stock company &#8211; regarding the demand for debt payment, the demand for late payment, the exercise of the lessor&#8217;s right of lien and the termination of the lease agreement, giving the tenant an additional 30-day deadline to liquidate the debt.<\/p>\n<p>On 24.05.2017, EfTEN Seljaku O\u00dc (landlord) and limited company Hortes (tenant) signed a lease agreement on the basis of which limited company Hortes uses the properties of Seljaku 4b and 2a in Harjumaa, Saue municipality, Laagri, including the building with technical systems and facilities. The debt of Hortes joint-stock company arising from the said lease agreement, together with the arrears and interests, is 93,690.80 euros.<\/p>\n<p>EfTEN T\u00e4hesaju tee O\u00dc (landlord) and limited company Hortes (hereinafter tenant) concluded a lease agreement on 23.08.2018, based on which the limited company Hortes uses the property at T\u00e4hesaju tee 5 in Tallinn, including the building located on the property with technical systems and facilities. The debt of Hortes joint-stock company arising from the said lease agreement, together with the arrears and interests, is 158,898.91 euros.<\/p>\n<p>The monthly rental income of Hortes&#8217; two properties is 2.5% of the consolidated sales income of EfTEN Real Estate Fund AS. Regarding both stores, we have started negotiations with new potential tenants, and we are also considering selling the properties if there is a suitable offer. Regarding the signing of new leases or the transfer of the property or the reaching of a suitable longer-term agreement with the current tenant, we will immediately inform upon the adoption of the corresponding decision.<\/p>\n<p>On 09.07.2024, the landlords EfTEN Seljaku O\u00dc and EfTEN T\u00e4hesaju O\u00dc received a court order from the Harju County Court regarding the initiation of restructuring of the limited company Hortes. According to the mentioned regulation, the proposed restructuring plan is to be adopted no later than 23.08.2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 08.07.2024, the fund&#8217;s subsidiaries EfTEN Seljaku O\u00dc and EfTEN T\u00e4hesaju tee O\u00dc submitted notices to the tenant &#8211; the Hortes joint-stock company &#8211; regarding the demand for debt payment, the demand for late payment, the exercise of the lessor&#8217;s right of lien and the termination of the lease agreement, giving the tenant an additional [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-3177","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Termination of the lease agreement with the tenant of two of the fund&#039;s subsidiaries and reorganisation of the tenant - Eref<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eref.ee\/en\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Termination of the lease agreement with the tenant of two of the fund&#039;s subsidiaries and reorganisation of the tenant - Eref\" \/>\n<meta property=\"og:description\" content=\"On 08.07.2024, the fund&#8217;s subsidiaries EfTEN Seljaku O\u00dc and EfTEN T\u00e4hesaju tee O\u00dc submitted notices to the tenant &#8211; the Hortes joint-stock company &#8211; regarding the demand for debt payment, the demand for late payment, the exercise of the lessor&#8217;s right of lien and the termination of the lease agreement, giving the tenant an additional [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eref.ee\/en\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\/\" \/>\n<meta property=\"og:site_name\" content=\"Eref\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-09T14:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-12T06:24:07+00:00\" \/>\n<meta name=\"author\" content=\"Kerli\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kerli\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/eref.ee\\\/en\\\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/eref.ee\\\/en\\\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\\\/\"},\"author\":{\"name\":\"Kerli\",\"@id\":\"https:\\\/\\\/eref.ee\\\/en\\\/#\\\/schema\\\/person\\\/b963bbacf57359c3f23612abbd99b8e3\"},\"headline\":\"Termination of the lease agreement with the tenant of two of the fund&#8217;s subsidiaries and reorganisation of the tenant\",\"datePublished\":\"2024-07-09T14:00:32+00:00\",\"dateModified\":\"2024-07-12T06:24:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/eref.ee\\\/en\\\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\\\/\"},\"wordCount\":337,\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/eref.ee\\\/en\\\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\\\/\",\"url\":\"https:\\\/\\\/eref.ee\\\/en\\\/termination-of-the-lease-agreement-with-the-tenant-of-two-of-the-funds-subsidiaries-and-reorganisation-of-the-tenant\\\/\",\"name\":\"Termination of the lease agreement with the tenant of two of the fund's subsidiaries and reorganisation of the tenant - 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