Brem bankruptcy case dropped

TALLINN — Tallinn heating company Tallinna Küte withdraw the bankruptcy request on Brem, a large Estonian real estate maintenance company after it paid most of it’s debt.

Brem had 800,000 krooni (€51,129) worth of unpaid heating bills since the end of last year to Tallinna Küte, which filed for Brem’s bankruptcy in the Harju County Court in the beginning of last week. Today the heating company took back its request for Brem’s bankruptcy as Brem paid back most of its debt, and agreed to a paiment schedule on the rest of the debt. The first debate over the possible bankruptcy will be held Aug. 18. The domestically-owned Brem administrates over 1,000 properties in Estonia.

Brem also owed 1.54 million krooni (€98,423) to to Eesti Energia, the country’s national energy company, for electricity. In the fear of losing power in the buildings the company maintains, Brem finally decided to transfer some of the debt to Eesti Energia, and reached an agreement with the energy company about the rest of the payments.

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