Oscar Properties announces on Thursday evening that the holders of the company's senior unsecured bonds have announced that they are canceling the loan for immediate payment and that repayment must take place immediately. The amount due for payment amounts to approximately SEK 884 million, including unpaid interest and fees.

The owners intend to file for bankruptcy on Friday if payment has not been made. Oscar Properties states that it is conducting a constructive dialogue with the bondholders to find a solution.

At the same time as the news about the new requirement was released, the company also announced on Thursday that the chairman of the board Peter Norman and the board member Markus Dragicevic have informed the company that they are leaving their positions with immediate effect.

"Oscar Properties has gone through an eventful period during my time as chairman of the board of the company. Unfortunately, the company has had difficult timing when entering the property market and the sharp interest rate increases that have occurred have meant that the board's mission has recently been changed to deal with issues like that with all certainty there are more suitable candidates for. I want to thank the owners and partners for the trust and for the time spent," says Peter Norman.

"I want to thank Peter for his honorable contribution as chairman of the board during a turbulent time in the company and Marcus for his contributions to the board. The company must come back as soon as possible regarding the composition of the board and management," says the company's founder Oscar Engelbert.