Peab Acts to Get Payment From URW After Success in Svea Court

Peab filed for bankruptcy for Unibail Rodamco Westfield’s wholly owned subsidiary, Rodamco Project, following a Svea Court of Appeal judgment on May 28 regarding the challenge of the arbitral award in the case of Mall of Scandinavia in Solna.

• The challenge by URW “was completely dismissed concerning Peab’s claims and URW was thereby immediately obliged to pay Peab around SEK1.6b,” which has yet to be received
  • Action has been taken “so that Peab, through the bankruptcy proceedings, can enforce its claim from the other companies in the URW group”
• “Peab believes there is a very good likelihood that ...