30.09.20 the Arbitration Court of the Estonian Chamber of Commerce and Industry made a final decision between Estmak Capital’s subsidiary Kai 1 OÜ and its former investment advisor Capital Mill. By the decision, the arbitral tribunal determined the amount of the performance fee for the development of Kai tn 1, which is 799 thousand euros. Capital Mill claimed a performance fee of EUR 1 337 000. According to Kai 1 OÜ’s calculations, the performance fee was 750 thousand euros. The court also agreed with Kai 1 OÜ that a reasonable project management fee is 42 thousand euros. The decision is final and cannot be changed.
Estmak Capital is satisfied with the final result of the dispute, which confirms the unfoundedness of Capital Mill’s claims. The decision also has a significant impact on the second ongoing dispute between the parties over the performance fee of Lasnamäe Health House.