Oscar Properties reaches deal with creditor to avoid bankruptcy (updated)

Oscar Properties Holding AB

12/08/2024 13:08

(Adds detail from lawyer in paragraphs 2-3)
       STOCKHOLM, Aug 12 (Reuters) - Sweden's Oscar Properties
 OP.ST  avoided bankruptcy on Monday after reaching a settlement
over financial claims made by a housing association, a lawyer
representing the creditor said.
    "We recall the bankruptcy application after the parties
reached an agreement," said Patrik Kalman, lawyer for the
housing association Innovationen which earlier had requested the
company to be declared bankrupt over unpaid debt. 
       The association, which owns a Stockholm property
developed by Oscar Properties, will receive part of the
outstanding debt from the company. This partial payment was
deemed sufficient to withdraw the bankruptcy application, Kalman
said. 
  
            
  


 (Reporting by Anna Ringstrom, editing by Stine Jacobsen)
 ((anna.ringstrom@thomsonreuters.com))