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News

Avenir has assisted 3N Lyktan AB in the acquisition of the real estate company CGM Fastigheter AB

3N Fastigheter AB has through its subsidiary 3N Lyktan AB expanded its real estate portfolio with the property Kolet 3, through acquisition of CGM Fastigheter AB. The property is located in Risängen in Norrköping and contains two floors with newly renovated office space.

Avenir has assisted the buyer 3N Lyktan AB in the acquisition, including drafting contracts and closing.

Settlement reached between Sahlin and Vargarna Speedway

Avenir has represented the former president of Vargarna speedway club, Torsten Sahlin, regarding his claim on Vargarna of 1,9 million SEK. An agreement has now been reached between the parties, whereby Vargarna transfers the whole speedway arena with inventories to Sahlin, and payment for this is made through offset against Sahlins claim on Vargarna. A lease agreement has been signed allowing Vargarna to rent the arena and property from Sahlin during a period of ten years.

The agreement was reached after relatively intensive negotiations. Avenir has represented Sahlin in the negotiations with Vargarna and, among other things, with the drafting the contracts and closing.

Sahlin is very pleased with the settlement, which also has enabled Vargarna to live on as speedway club, despite the debt to Sahlin.

Avenir has assisted Magnentus in the acquisition of Gripen 9

Through the acquisition of Heimstaden Levanten AB, Magnentus has expanded its real estate portfolio with the property Gripen 9 in the centre of Norrköping, with a property value of 150 million SEK. The property contains a number of business spaces and 35 apartments, and has a rentable area of approximately 9 300 square meters.

Avenir has assisted the buyer Magnentus in the acquisition, including drafting contracts and closing.

Avenir has assisted Eklöf Fastighets AB in the acquisition of the real estate company Ivan Svensson Bygg & Konsult AB

Eklöf Fastighets AB in Norrköping has expanded its real estate portfolio with five rental properties in Norrköping, through acquisition of Ivan Svensson Bygg & Konsult AB. The properties contain about 70 apartments and the rentable area amounts to more than 4 500 square meters.
 
Avenir has assisted the buyer Eklöf Fastighets AB in the acquisition, including drafting contracts and closing.

Avenir has assisted Magnentus in the sale of the real estate property Enen

Magnentus has sold the property Enen, containing a block in the centre of Norrköping, to the buyer Heimstaden AB. The transaction was carried out through several company transfers to a total property value of 275 million SEK. The property contain 149 apartments and some premises, and the rentable area amounts to approximately 9 000 square meters.
 
Avenir has assisted the seller Magnentus in the transaction, including drafting contracts and closing.

Avenir has assisted Eklöf Fastighets AB in the acquisition of real estate company Brogripen Norrköping AB

Eklöf Fastighets AB has expanded its real estate portfolio with eight rental properties in Norrköping through the acquisition of BroGripen Norrköping AB. The properties contain about 120 apartments and a number of premises. The rentable area amounts to more than 9 000 square meters.
 
Avenir has assisted the buyer Eklöf Fastighets AB in the acquisition with legal due diligence, drafting contracts and closing.

Avenir has assisted Eklöf Fastighets AB in the sale of real estate property

Eklöf Fastighets AB in Norrköping has sold the property Röken 24 in the centre of Norrköping through a company transfer. The property contains 14 apartments and has a rentable area of ​​approximately 700 square meters.
 
Avenir has assisted the seller Eklöf Fastighets AB in the transaction, including drafting contracts and closing

Avenir has assisted Fyrfjärden AB in the acquisition of Tisab

Fyrfjärden AB has acquired all shares in TISAB i Norrköping AB. Avenir has represented the buyer in negotiations in the transaction, drafting contracts and closing.
 
TISAB was started in 1991 and has currently about 30 employees. The company sells, manufactures and installs steel frames. The company has delivered orders to, among others, SSAB, Mirum Galleria, Fiskeby, Lundbergs, Magnentus, Linköping University, Stadium, etc.

Avenir has assisted Wärnelius in the acquisition of K A Project AB

Magnus Värnelius Holding AB has acquired the company K A Project AB, which thus becomes sister company to the construction company Wärnelius Bygg & Konsult AB and the real estate company Magnus Värnelius Fastighetsförvaltning AB. Avenir has represented the buyer in negotiations of the deal, drafting contracts and legal due diligence.

K A Project AB has 30 employees and an extensive experience within reconstruction of mainly commercial real estate property. The company has service agreements with customers including the Municipality of Norrköping and real estate companies L E Lundbergs, Klövern, Hyresbostäder and Heimstaden.

Through the acquisition, the Wärnelius-group strenghtens its capacity within construction service aswell as residence- and disability adjustments, which Wärnelius Bygg & Konsult AB already has great experience within. The acquisition also leads to new recruitments in the company.

Victory in arbitration dispute regarding construction law

Avenir has represented Anatomic Sitt in Norrköping, a company that develops, manufactures and supplies custom sitting and standing tools for disabled people, in a dispute with Almroth Byggnads in Norrköping, regarding the construction of Anatomic Sitt’s new business premises at Kungsängen in Norrköping. The dispute value was approximately 7,4 million SEK, excluding interest and costs. The main dispute issue has been which price model was agreed for the contract, which was carried out under the standard contract AB04. After completion of the work, Almroth claimed payment with about 52,3 million SEK (including VAT), claiming that the parties has agreed upon a price on current account with self-regulation, or adjustable amounts against a price list. Anatomic Sitt, who contested the claim above the nearly 45 million SEK already paid, was of the opinion that a fixed price had been agreed, and that the price requested by Almroth was unreasonable. The parties had widely different views on the question of what price was agreed, and of importance was (among other things) the negotiations which preceeded the signing of the agreement. The wording of the construction agreement indicated only ”budget price”, which in these cases usually means current account. However, there were several circumstances that contradicted this being what the parties intended, and there are no definition of the term ”budget price” in AB04.
 
The dispute has now been resolved by an arbitration tribunal consisting of three judges, who finds that it cannot be concluded that the parties have agreed on neither a fixed price nor a current account or adjustable amounts according to pricelist. In such a situation, instead, Anatomic Sitt should pay what is a reasonable price for the construction. In this regard, the arbitration panel makes the assessment, with the help of expert opinion obtained by us for Anatomic Sitt, that a reasonable price is 47 million SEK, i.e. about SEK 5.3 million less than Almroths claim, and that Anatomic Sitt thus shall pay approximately an additionally 1.6 million SEK (plus VAT). However, because Anatomic Sitt was entitled to withhold payment according to the rules in AB04, no interest is due for the period before the judgment. With this outcome, Anatomic Sitt is considered to be the main winner in the dispute, and Almroth is ordered by the arbitration panel to pay a significant portion of Anatomic Sitt’s costs in the matter, and most of the cost of the arbitration panel.
 
The outcome is a clear win for Anatomic Sitt, especially as the case was difficult to argue with regards to the wording of the agreement. For the counterparty, the judgement means a significant loss due to its costs for the dispute. The judgement cannot be appealed, and Anatomic Sitt is pleased with the outcome of the process.
 
The case has been handled by the lawyers Hanna Vikström (main represantative) and Henrik Stenberg.

Dispute regarding Ållonö Castle settled

The dispute between Anders Sydborg’s bankruptcy estate and Vikbolandets Fastighets AB regarding the right to the property Ållonö Castle, previously owned by Anders Sydborg and in the bankruptcy recovered to the estate, has now ended through a settlement which has been confirmed by the District Court by judgement. The settlement means that Vikbolandets Fastighets AB renounces all claims relating to the castle and its contents, and admit that the bankruptcy estate has title to the property.

The settlement was reached after the bankruptcy estate a short time ago won another case against the owner of Vikbolandets Fastighets AB, regarding other goods he had claimed from the estate. In that case, the court had in much the same questions to try as in the case regarding the castle. The court rejected all claims regarding handing over of goods, and according to the court, the person claiming the ownership to the property was merely acting as a ”front figure” to Anders Sydborg in his plan to keep his assets in practice, despite his tax debt and the bankruptcy that followed.

Ållonö Castle has previously been sold by the bankruptcy estate, and the settlement with Vikbolandets Fastighets AB means that the new owner shortly can take possession to the property.

Henrik Stenberg is the trustee in the bankruptcy, and the litigations has been handled by Hanna Vikström as representative for the bankruptcy estate.

Avenir has represented the seller in the transfer of matvaran.se to Mathem

Avenir has represented America Webb och Reklambyrå AB in the sale of the company ett plus ett AB to Mathem i Sverige AB. The transfer has included the domain matvaran.se regarding Internet sale of grocery. Mathem is the leading distributor in online grocery sales in Sweden. Through the acquisition, Mathem intends to expand and establish its business in Östergötland.

Avenir has assisted Magnentus Group in the acquisition of the Lamp Hotel

Magnentus Group has acquired The Lamp Hotel in Norrköping from RC Waldau, through a transfer of business. The hotel, which is a modern boutique hotel, has 48 rooms and a suite of 85 square meters. Avenir has assisted the buyer Magnentus in the transaction. Magnentus already owns the real estate property on which the hotel has its premises. The premises also contains the Lamp Restaurant, run by Magnentus.

Avenir has assisted Otto Bock in the acquisition of Ortoped Service

Otto Bock Holding Sweden has acquired the shares in Ortoped Service in Stockholm Ortopedingenjören AB. The company’s business is orthopedic operations in the Stockholm region. The company has Stockholm County Council as a customer, among others. Avenir has assisted Otto Bock in the acquisition. In connection with the transaction, Ortoped Service has acquired the business of OT-Center Ortopedteknik. Avenir has assisted the Group in that acquisition aswell.

Avenir has represented Östgöta Kök in the sale of Knäppingen and Bagarstugan

Östgöta Kök Holding and others have sold Knäppingen Stadsmuséets Café och Kök AB, a company that runs the restaurant Knäppingen in Norrköping. Avenir has represented the seller Östgöta Kök in the matter. The deal was carried out in the beginning of 2015.

Östgöta Kök Holding has also previously sold Bagarstugan KAHTO AB, a company that runs Bagarstugan Brasserie & Bageri in Norrköping. Avenir represented the seller in this transaction as well.