Oscar Properties wrote in a press release on August 1 that the Tax Agency had applied for the company to be declared bankrupt as a result of unpaid taxes. At Thursday's hearing, the district court decided to grant Oscar Properties a postponement until October 31, when bankruptcy negotiations will resume if the application has not been withdrawn before then.

Expressen reports that CEO Richard Bagge has assured the Swedish Tax Agency that up to SEK 25 million can come into the company if "everything goes well", for Oscar Properties.

"The company has come up with an explanation for how to settle the debts and we find it credible", says Caroline Schauman from the Swedish Tax Agency to the newspaper.

Nordic Property News has been in contact with Richard Bagge who announces that he cannot say much about the company's future and continuation and refers to the fact that certain facts have not been made public. However, he leaves the following brief comment:

"The work to save the company enters the next phase. This was like one watery grave for us to jump over. How many times do you have to jump over the moat in a 3,000 meter obstacle course?"

Nordic Property News' reporter can tell you that the answer to that rhetorical question is seven times, but what that might mean for Oscar Properties' future remains to be seen.