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ONE UNITED PROPERTIES - ONE

Favorable decision by Bucharest Court of Appeal related to One Peninsula

Release Date: 5/25/2022 9:58:32 AM

IRIS Code: 17DC7

                       

To: the Bucharest Stock Exchange

       the Romanian Financial Supervisory Authority
 

 

 

CURRENT REPORT NO. 43/2022

Pursuant to Law no. 24/2017 on issuers of financial instruments and market operations and to the Romanian Financial Supervisory Authority Regulation no. 5/2018 on issuers and operations with securities, as subsequently amended and supplemented and the provisions of Article 99 of the Bucharest Stock Exchange Code, Title II, Issuers and Financial Instruments.

Report date:

25.05.2022

Name of the issuer:

One United Properties S.A.

Registered office:

20 Maxim Gorki Street, District 1, Bucharest, Romania

Registration no. with Trade Registry:

J40/21705/2007

Sole registration code:

22767862

Share Capital:

RON 514,828,058.80

Total number of shares:

2,574,140,294 ordinary shares

Symbol:

ONE

Market where securities are traded:

Bucharest Stock Exchange, Main Segment, Category Premium

Important events to report: Favorable decision by Bucharest Court of Appeal related to One Peninsula development

The management of One United Properties S.A. (hereinafter referred to as the “Company”) informs the market and the shareholders that on 23 May 2022 the Bucharest Court of Appeal published its final ruling, issued on 20 May 2022, in the second appeal in case file no. 10372/3/2021, whereby the court has rejected the second appeal of the plaintiffs (Ciorbea Victor, Ciorbea Lacrima etc.) as without merit and has admitted the collateral second appeal inserted by the defendant One Peninsula S.R.L. According to such ruling, the plaintiffs’ claim to suspend the building permit was rejected as being without merit, while the plaintiffs’ claims to suspend the urbanism certificates and the deforestation endorsement were rejected as inadmissible, the plaintiffs being also obliged to pay the litigation costs incurred during the second appeal. The court’s ruling is final.

Within the claim which initiated case file no. 10372/3/2021, the plaintiffs had requested the suspension of the building permit, of the urbanism certificates and of the deforestation endorsement issued for the One Peninsula development. According to what has already been communicated within the current report no. 33 dated 18 November 2021, in the court’s ruling on the merits, the Bucharest Tribunal had rejected on 7 June 2021 the request to suspend the building permit and the urbanism certificates as being without merit, while the plaintiffs’ claim regarding the suspension of the deforestation endorsement was rejected as being inadmissible, obliging the plaintiffs to pay the litigation costs incurred in the file. By rejecting the principal second appeal of the plaintiffs’ and by admitting the collateral second appeal of the defendant One Peninsula S.R.L., the Bucharest Court of Appeal has maintained the ruling of rejecting the claim in its entirety, amending, correctly, the rejection of the request to suspend the urbanism certificates from being without merit to being inadmissible.

The Company’s position is that the ruling rejecting the request to suspend the urbanism certificates and the deforestation endorsement as being inadmissible is correct, being similar to the ruling already entered by the Bucharest Tribunal within the court’s ruling on the merits in case file no. 36463/3/2020 (in the exception ruling phase), whereby the claim regarding the cancellation of the documentation related to the One Peninsula development of the same plaintiffs is being settled.

The Company welcomes the favourable solution of the Bucharest Court of Appeal, confirming the validity of the documentation and actions that constituted the basis for the development of One Peninsula development. One Peninsula is an exclusivist real estate project which defines the new lifestyle, representing a premiere on the real estate market. This is the first residential club in Bucharest with geothermal heat pumps system. Located on 15 Navigatorilor Street, One Peninsula development enjoys all the advantages of Floreasca neighbourhood, offering its residents beautiful views over Lake Floreasca, but also the peace and privacy specific to areas outside the cities, right in the heart of the Capital. 

Executive Member of the Board of Directors,

Victor Capitanu

 

 



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