Legal Dispute Settlement
Search documents
Swencn AB legal dispute agreement
Globenewswire· 2026-03-17 14:30
Core Viewpoint - Swencn AB, part of the Nordecon AS group, has settled a legal dispute with a private client regarding a residential development project in Stockholm, resulting in a payment of 70.330 million Swedish krona (approximately 6.5 million euros) [1][2][3]. Group Overview - Nordecon AS is a group of construction companies focused on construction project management and general contracting in the buildings and infrastructures segment, operating in Estonia, Ukraine, and Sweden [4]. - The consolidated revenue of Nordecon Group in 2025 was 208 million euros, and the group employs approximately 430 people [4]. - Nordecon AS has been listed on the main list of the Nasdaq Tallinn Stock Exchange since May 18, 2006 [4]. Legal Proceedings and Settlement - Swencn AB unilaterally terminated a contract in June 2020 due to disputes, leading to prolonged legal proceedings with a private client [1][2]. - The legal position of Swencn AB was assessed as weak due to the stronger legal protection afforded to private individuals under Swedish law, prompting the company to seek a settlement [2]. - The settlement agreement stipulates a long-term payment schedule, which will not materially impact the group's liquidity but will negatively affect the financial results for the financial year 2026 [3].