The court invalidated the transaction for the sale of Podium Market stores of the Stockmann chain

The Moscow arbitration in the framework of the bankruptcy case of the investment and production company (IPC) Atlas, formerly known as Podium Market, invalidated the transaction for the sale of the business of the Stockmann network. This follows from the ruling of the court. We are talking about the Podium Market clothing and footwear stores that were transferred to Stockmann in 2017.

Then the company faced financial problems: the total amount of claims against it from counterparties at that time was more than 1 billion rubles. As a result, “Stockmann” acquired its trade balances and shop equipment. The court materials, however, say that the chain also owns four Podium Market outlets – two in Moscow (in the Fashion Season and European shopping centers) and one each in Kazan (in the Pushkinsky business center) and in Krasnodar (in the OZ Mall complex). It also says that the retailer received the rights to use the domain and trademarks “Podium Market”. In addition, the rights and obligations of the tenant of shops were transferred to him.

The amount of the deal between Stockmann and Podium Market has never been officially disclosed. But from the definition of the Moscow arbitration, it follows that the retailer must now pay 1.69 billion rubles to the Atlas IPK. It was in this amount that the business sold by her was valued by the Roseco appraisal company. Most likely, the court considered that it was impossible to return the property purchased by Stockmann, so it instructed to recover from the network exactly the market value of the sold business, suggests Stanislav Valezhnikov, managing partner of the Central District law firm. At the same time, judging by the materials of the case, Stockmann got the assets of Podium Market for only 105.3 million rubles. The ruling of the court says that the retailer will now be able to receive this money from the Atlas IPK. The Moscow arbitration thus returned both companies to their original state before the deal, explains Oleg Permyakov, partner at the law firm Rustam Kurmaev and Partners.