The background is a settlement agreement entered into with the housing association Innovationen, which the condominium association believes that Oscar Properties has not followed. Oscar Properties intends to contest the bankruptcy filing.

Furthermore, Oscar Properties writes that its board continuously evaluates the alternatives to enable the company's continued operation and for dialogues with Brf Innovationen and other creditors.

BRF Innovationen is a condominium association with 182 apartments in Stockholm located in Vasastan near Karolinska University Hospital. The apartments are in the residential complex Innovationen, the eastern of the two northern towers, and according to the company, with its 36 floors, is Stockholm's tallest residential building.