On Monday afternoon, a new auction started for the sale of the T1 Mall of Tallinn shopping center in the Estonian capital with a starting price of €65 million. Bids can be made until November 4.
Bankruptcy trustees Kristo Teder and Indrek Lepsoo are selling the 2 Peterburi Road property belonging to the bankrupt AS Tallinna Moekombinaat together with the T1 Mall Of Tallinn shopping center operating on it.
The first auction, held with a starting price of €85 million, failed.
The Tallinn-based Harju County Court declared the bankruptcy of AS Tallinna Moekombinaat in early June. Claims by 20 creditors in the total sum of over €119.5 million had been lodged against AS Tallinna Moekombinaat for the first creditors' meeting held on June 17.
The biggest creditor in the bankruptcy proceedings of Tallinna Moekombinaat is Lintgen Adjacent Investments S.a r.l.
The T1 mall, including the stores, eateries and service facilities located at its premises remains open.
Editor: Helen Wright