ARTICLES TAGGED WITH "Oscar Properties"

Oscar Properties denied corporate restructuring again

Sweden Sweden — On Monday a bankruptcy hearing was held regarding Oscar Properties and the district court informs Nordic Property News that no decision on bankruptcy was made. However, Nordic Property News can reveal that the company's second application for corporate restructuring has been rejected by the district court, on similar grounds as the first application.

Oscar Properties submits new application for corporate restructuring

Sweden Sweden — Oscar Properties submits a new application for corporate restructuring because the previous application was rejected.

Here is Oscar Properties' plan for the corporate restructuring

Sweden Sweden — The bankruptcy threat hangs over Oscar Properties at the same time as the company applied for corporate restructuring, a measure that, if it goes through, will mean that founder Oscar Engelbert will leave the company completely. Documents that Nordic Property News has seen show what the company's reconstruction plan looks like: * The plan for new leadership * The decision regarding the liquidity * Options for refinancing

Oscar Properties has submitted an application for corporate restructuring

Sweden Sweden — Oscar Properties has submitted an application for corporate restructuring to the Stockholm District Court.

Bondholders files for bankruptcy of Oscar Properties

Sweden Sweden — The holders of Oscar Properties' senior unsecured bonds have submitted a bankruptcy petition to the Stockholm district court.

New threat of bankruptcy for Oscar Properties – the Chairman exits the company immediately

Sweden Sweden — Oscar Properties' bondholders have canceled their senior unsecured bonds of SEK 884 million for immediate payment. The owners will apply on Friday for Oscar Properties to be declared bankrupt if payment has not been made. At the same time, the company announces that chairman of the board Peter Norman and board member Markus Dragicevic are leaving their positions with immediate effect.

Oscar Properties postpones year-end report – again

Sweden Sweden — For the second time, Oscar Properties postpones its year-end report.

Oscar Properties avoids bankruptcy

Sweden Sweden — Oscar Properties has avoided bankruptcy by having paid a million dollar claim to Dsam Sweden, which requested the company into bankruptcy, Expressen writes. The company itself announces via a press release that it has decided to invoke an arbitration procedure against DSAM Sweden for the return of SEK 14 million, which includes the claim for one million that DSAM Sweden asserted as the basis for its bankruptcy application against the company.

Carl Janglin leaves Oscar Properties immediately

Sweden Sweden — A few weeks ago it was announced that CEO Carl Janglin would leave Oscar Properties, but that he would remain in his position until a successor was appointed and would be involved during the transition. Now the Oscar Properties announces that Janglin is leaving the assignment with immediate effect.

Oscar Properties' CEO on the turmoil: "Forced to shrink to survive"

Sweden Sweden — Oscar Properties' outgoing CEO Carl Janglin tells Nordic Property News why he is leaving the company, what the pressure has been like in recent months and why his short time at the company did not turn out as he had imagined.

Oscar Properties sells four properties

Sweden Sweden — Oscar Properties has sold four properties for a total of SEK 150 million.

CEO and CFO to leave Oscar Properties

Sweden Sweden — Oscar Properties CEO Carl Janglin and CFO Magnus Thimgren have informed the company that they intend to leave their positions.

Oscar Properties contests new bankruptcy filing

Sweden Sweden — The real estate company DSAM Sweden files for bankruptcy of Oscar Properties, Expressen reports. Oscar Properties writes in a press release that they have been informed that DSAM has applied for the company to be declared bankrupt as a result of an agreement entered into with DSAM which DSAM believes that Oscar Properties has not complied with. Oscar Properties will contest the bankruptcy filing.

Bankruptcy application against Oscar Properties withdrawn

Sweden Sweden — Oscar Properties and Brf Innovationen have reached an agreement which means that Brf Innovationen has now withdrawn its bankruptcy application against Oscar Properties.

Erik Selin acquires properties from Oscar Properties

Sweden Sweden — Oscar Properties has entered into an agreement to sell the underlying property portfolio in a number of wholly-owned subsidiaries to Erik Selin Fastigheter for a purchase price of approximately SEK 2.2 billion with access as soon as possible. The acquisition is only conditional on the buyer receiving financing by January 18, 2024 at the latest, Oscar Properties writes in a press release.

The future for Oscar Properties after the major deal with Selin

Sweden Sweden — On Monday Oscar Properties announced that they have sold the DNB portfolio for SEK 2.2 billion to Erik Selin Fastigheter. This is likely not the last thing Oscar Properties does in terms of disposals – the company has 36 properties left in its ownership and CEO Carl Janglin tells Nordic Property News that more sales will likely follow. He also comments on the additional measures the company is looking at such as a further slimming of the organization and a possible corporate restructuring.

Condominium association files for bankruptcy for Oscar Properties

Sweden Sweden — The housing association Innovationen in Stockholm has applied for Oscar Properties to be declared bankrupt, according to a press release from the company.

DNB starts selling off Oscar Properties assets: "Major negative impact"

Sweden Sweden — The Norwegian bank DNB has started to sell off a portfolio of Oscar Properties properties because the company was unable to pay the interest on a loan of SEK 1.6 billion from the bank, something that Bloomberg News was the first to report on. For Nordic Property News, CEO Carl Janglin confirms that the company, together with other lenders, is evaluating whether there is a way forward even without the DNB portfolio. He also explains how this affects the restructuring plan.

EHF buys from Oscar Properties

Sweden Sweden — EHF acquires another central property in Skövde. The property is located in the main street in the center and the seller is Oscar Properties. The property (Heimdal 17) has a total area of 5,052 square meters and consists of eight homes, garages and commercial premises.

DNB claims properties from Oscar Properties

Sweden Sweden — DNB Bank ASA, Sweden Branch and DNB Sweden AB (jointly, DNB) have notified Oscar Properties Holding that they intend to take measures to enforce collateral placed over, among other things, shares in some of Oscar Properties' subsidiaries.

Carl Janglin: "Without a new capital structure, there is no way forward for Oscar Properties"

Sweden Sweden — Oscar Properties has an unsustainable capital structure given the interest rate situation. An agreement with all lenders is now required, says the new CEO, Carl Janglin.

Oscar Engelbert steps down as CEO of Oscar Properties

Sweden Sweden — Oscar Properties gets a new CEO when Carl Janglin succeeds the founder and main owner Oscar Engelbert. After 19 years, Oscar chooses to hand over operational responsibility for the company but remains as a board member. Carl takes office on 1 September.

Oscar Properties Sells Portfolio

Sweden Sweden — Oscar Properties has entered into an agreement regarding the sale of a property portfolio at an agreed property value of SEK 165 million.

Wihlborgs Buys from Oscar Properties

Sweden Sweden — Wihlborgs strengthens its north Helsingborg presence with two acquisitions from Oscar Properties.

Well-known Investor Becomes Large Owner in Oscar Properties

Sweden Sweden — Becomes second largest owner in Oscar Properties.