18. Non-current and current liabilities

EUR 1,000 2016 2015



Non-current liabilities
Restructuring debts from financial institutions, interest-bearing 23,521
Loans from Group companies 425 407
Restructuring debts from financial institutions, non-interest bearing 4,396
Other restructuring debts, non-interest bearing 2,423
Termination benefits 404 392
Non-current liabilities total 31,170 799



Current liabilities
Loans from financial institutions * 400 31,781
Trade payables 2,851 5,329
Accrued liabilities and deferred income 6,296 13,704
Other liabilities 174 297
Total 9,721 51,111



Liabilities from Group companies:
Trade payables 5,352 36,246
Other liabilities 6 1,409
Total 5,358 37,655



Current liabilities total 15,079 88,766



Major items included in accrued liabilities and deferred income
Other accrued personnel expenses 1,594 2,217
Withholding tax accrual (note 8) 1,203 5,481
Accrued interest expenses 794 1,923
Accrued agent fees 500 1,121
Valuation of interest rate swap 314 424
Other accruals related to customer contracts 1,250 1,696
Other accrued liabilities and deferred income 640 841
Total 6,296 13,704



At the end of the financial period, the company had a payment programme related long-term debt EUR 27.9 million (0.0), which consisted of interest-bearing EUR 23.5 million and EUR 4.4 million non-interest bearing liabilities to financial institutions.


The company had in accordance with the payment programme of secured interest-bearing liabilities to financial institutions EUR 23.5 million. EUR. At the end of the financial period, the company had in full use EUR 0.4 million short-term loan.


The company had according with the amended restructuring programme proposal 30 September 2016, the ordinary restructuring non-interest bearing liabilities to financial institutions EUR 8.8 million and the other external restructuring debts EUR 4.7 million. Half of these debts were write down. After write down, there were the ordinary restructuring non-interest bearing liabilities to financial institutions, EUR 4.4 million and other liabilities to the other creditors of EUR 2.5 million. In accordance with the restructuring programme, the parent company had a debt to Group companies EUR 36.7 million, which was written down in full.


The company performed at the end of December, the first payments in accordance with the payment programme to the other creditors. Ordinary restructuring debts or secured debts to financial institutions were not repaid in the fiscal year 2016.


Payments will be due in payment semi-annually at the end of June and December and the final installments will be paid in June 2025. Details can be found in the payment programme for the company in Annex 15, which is published in the Tecnotree Corporation's stock exchange release of 30 September 2016 under the title The Restructuring Programme proposal.

In its decision on 9 March 2015, the district court of Espoo ordered the corporate restructuring proceedings as prescribed in law to be started for Tecnotree Corporation. The administrator delivered his proposed restructuring program to the district court of Espoo on 30 March 2016. The liabilities above include restructuring debt as follows:



EUR 1,000 2016 2015



Restructuring debt, short-term loans from financial institutions
31,781
Restructuring debt included in trade payables
4,780
Restructuring debt included in accrued liabilities
650
Restructuring debt included in liabilities from Group companies
36,674
Short-term loans from financial institutions 400
Guaranteed restructuring debts from financial institutions, interest bearing 15,640
Corporate mortgage debts from financial institutions, interest bearing 7,881
Ordinary restructuring debts from financial institutions, interest-free 4,396