Võidu 10A: conditional reduction of late-payment interest by settlement

Failure to pay on time removes the agreed late-payment interest reduction.

KORTERIÜHISTU VÕIDU 10A (now — Narva linn, Võidu prospekt 10a korteriühistu). The court approved a settlement between KORTERIÜHISTU VÕIDU 10A and XX concerning management charges and late-payment interest and discontinued proceedings. The association agreed to reduce late-payment interest if the agreed amount was paid by 3 June 2016 inclusive. No further late-payment interest accrues on that debt up to that date. If the payment condition is breached, the full agreed amount without the reduction becomes payable immediately. This is a conditional late-payment interest reduction rather than unconditional forgiveness of part of the debt. Other costs remain with each party; refund of the state fee is reserved for a separate order after the order’s entry into force. The parties waived appeal. The order does not establish whether the payment condition was met.

The settlement was approved and proceedings discontinued; the late-payment interest reduction depends on timely payment.