“Cihelna Entertainment Complex did not pay the rent, which was reduced to an absolute minimum. It also did not pay for services related to the operation and management of the building, which are fixed and the pandemic has no effect on their amount, “describes the reasons for filing for insolvency, the lawyer of Immovision Prague Jan Havlíček.
Immovision Prague has a building in Malá Strana rented from the city. Sebastian Pawlovski is a Swiss businessman who had and still has a long-term lease of real estate in Prague. He was especially successful during the era of Pavel Bém.
Cihelna Entertainment Complex is owned by Norwegian businessman Nils Jebens, who has lived in Prague since 1992. In addition to Herget’s brickyard, it also operates the Kampa Park restaurant in Malá Strana. The E15 newspaper is looking for his opinion.
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Immovision Praha entered into a lease agreement with Cihelna in December 2002, when the rent amounted to EUR 25.5 thousand per month and by 2020 had risen to EUR 40.2 thousand per month (approximately one million crowns). To this must be added a monthly fee for services in the amount of 165 thousand crowns per month (for 2020).
According to a report filed by Immovision Praha in the insolvency register as a justification for its proposal, the development was as follows. The other party’s statement is not yet in the register.
In mid-May last year, Cihelna Entertainment Complex sent a letter to the landlord stating that it was unable to pay the rent, not even with the help of the state’s Covid Rent programs. Herget’s brickyard’s lawyer suggested meeting and resolving the situation best by concluding an agreement to terminate the lease and settle with each other. Otherwise, it will be necessary to declare bankruptcy.
Following this letter, Immovision Prague exercised the right of retention on all restaurant equipment, supplies, to cover outstanding debts. She calculated them at more than two million crowns.
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In June, however, both parties concluded an amendment to the lease agreement, which reduced the rent by thirty percent. This was a condition of reaching for state support under the Covid Rent program for the previous three months. According to the landlord’s entry in the insolvency register, Cihelna paid part of the rent and part was taken from the so-called refundable security under the sublease agreement.
The rent continued to change, for July, August and September it was to correspond to ten percent of turnover. And from October to March this year, it was supposed to be sixty percent of the original rent. That is, at a time when the restaurants were forcibly closed until a short break before Christmas.
In November and December, Immovision Praha exercised the right of retention again, and in December it added an executor, who wrote down all the property on the spot. Immovision estimated the outstanding receivables at more than two million crowns and at the end of December terminated the lease of the company operating the restaurant.
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“Immovision Praha tried to reach an agreement and the result was a number of concessions, including the acceptance of rent in marginal percentages of sales at the time it was reopened. However, the company Cihelna Entertainment Complex was still tightening in its requirements until they became completely unacceptable, “says Havlíček, a lawyer for the Swiss businessman.
Immovision Praha also stated in the insolvency petition that, to its knowledge, restaurants also owe other companies, namely XO foods and CIPA. However, they did not join the petition to bankrupt the company and declare bankruptcy on its assets.
On April 1, the court rejected the insolvency petition, stating that the specific creditors did not state specific claims and the date by which they were to be paid.
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