Litigation on mandatory cargo volume penalty of Tallinna Sadam's cargo operator Worldwide Cargo Establishment continues

Although the action was dismissed by the decision of the Harju County Court on 19.01.2021, WCE filed an appeal, which the court accepted. The hearing will take place in October 2021. In the opinion of Tallinna Sadam and its legal advisers, the claim is not substantiated, and it is not probable that a liability will arise, therefore Tallinna Sadam has not considered it necessary to recognise a provision for the claim.WCE is a cargo operator of Tallinna Sadam, which owns a grain terminal in...

On 30.05.2018, 29/04/2021 (informazione.news - comunicati stampa - turismo)

Although the action was dismissed by the decision of the Harju County Court on 19.01.2021, WCE filed an appeal, which the court accepted. The hearing will take place in October 2021. In the opinion of Tallinna Sadam and its legal advisers, the claim is not substantiated, and it is not probable that a liability will arise, therefore Tallinna Sadam has not considered it necessary to recognise a provision for the claim.

WCE is a cargo operator of Tallinna Sadam, which owns a grain terminal in Muuga Harbour and handles grain. According to the long-term co-operation agreement, WCE has a minimum annual cargo charge obligation of EUR 0.31 million, failing which WCE shall pay Tallinna Sadam a penalty in the amount of the difference between the mandatory and the actual cargo charge.

Additional information:

Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591

m.zirel@ts.ee