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ARTICLES TAGGED WITH "Oscar Properties"

Revelop acquires Stockholm Urban Industrial Asset in distressed deal

Sweden — Revelop has aquired an urban industrial asset in the Stockholm area from the bankruptcy estate of Oscar Properties.

Oscar Properties in bankruptcy – can't afford to appeal

Sweden — The fight is over, the growing debts finally became too much, and the Swedish Tax Agency's bankruptcy application was the death blow. Oscar Properties is declared bankrupt. CEO Richard Bagge comments on the outcome of the court on Thursday.

Threat of bankruptcy approaches for Oscar Properties

Sweden — Oscar Properties CEO Richard Bagge comments on the postponed bankruptcy negotiations that are taking place today.

Gelba takes over properties from Oscar Properties

Sweden — At the end of last week, all shares in Oscar Properties' wholly-owned subsidiary HL18 Property Portfolio, through a pledge realization under the company's outstanding senior secured bonds with a capital amount of SEK 550 million, were transferred to Gelba Förvaltning 7 AB, a private company owned by property investor Per Taube.

Oscar Engelbert makes large share divestment in Oscar Properties

Sweden — Oscar Properties founder Oscar Engelbert sells – through the company Parkgate – 1.25 million shares in the company, reports Finwire.

Oscar Properties' bankruptcy postponed until October 31

Sweden — After lunchtime on Thursday, it was time for Oscar Properties to once again participate in a bankruptcy hearing, this time due to an unpaid debt to the Swedish Tax Agency, which requested that the heavily pressured company be put into bankruptcy. When the negotiation was finished, Oscar Properties had once again managed to get some breathing room as the decision from the district court was to postpone the bankruptcy until October 31. CEO Richard Bagge compares the company's continued journey to a 3,000-meter hurdle race.

Bankruptcy application against Oscar Properties withdrawn: "We have be given some breathing room"

Sweden — The condominium association Innovationen withdraws its bankruptcy petition against Oscar Properties. In a press release, CEO Richard Bagge now comments on the company's future, which includes, among other things, the ambition of a new share issue.

Stockholm District Court rejects Oscar Properties' corporate restructuring application

Sweden — The Stockholm District Court has announced that the company's application for reconstruction is rejected. The company intends to appeal the decision to the Svea Court of Appeal with a request for urgent processing.

Oscar Properties' future to be decided soon

Sweden — The Stockholm District Court postponed bankruptcy proceedings with Brf Innovationen yesterday.

Another Oscar Properties company faces bankruptcy

Sweden — Oscar Properties' liquidator puts yet another subsidiary into bankruptcy.

Oscar Properties' CEO cannot rule out more liquidated subsidiaries

Sweden — Oscar Properties CEO Richard Bagge cannot rule out that more subsidiaries may be liquidated during the company's process of trying to sell their remaining properties. For Nordic Property News he also further explains his view of what may happen to the company when the properties are gone and it may have to be reshaped.

Oscar Properties appeals reconstruction ruling to the Supreme Court

Sweden — On May 20, Oscar Properties appealed the district court's decision to deny the company reconstruction, and now the Svea Court of Appeal has made its assessment on the matter – the decision is to reject the company's appeal, as can be seen from a document from the Court of Appeal that Nordic Property News has seen. Oscar Properties confirm that they are appealing the decision to the Supreme Court.

Major vacancies in Oscar Properties' portfolio

Sweden — Oscar Properties' vulnerable situation becomes even more apparent after the much-delayed Q1 report was released late on Friday evening last week. In addition to the fact that the company is in a very critical financial situation for its continued operations, since the end of the last financial year the company's accounting principles have been changed to no longer assume continued operations but a liquidation of the operations. And a look at the extensive vacancies in the portfolio shows that the company is missing out on many millions in rental income. CEO Richard Bagge comments on the situation for Nordic Property News.

Status of some of the industry's most stressed companies

Sweden — SBB is being pressured on the stock market, bankruptcy threatened Oscar Properties is getting ready to release its delayed annual report and Kvalitena is continuing with the reconstruction of the company. Nordic Property News goes thru the current situation regarding some of the industry's most pressured players.

In midst of the crisis – Oscar Properties to elect new board

Sweden — It has been a busy two months for Oscar Properties, which teetered close to bankruptcy and had its restructuring application rejected twice with reference to the fact that the board is not in a decision-making body as it now only consists of the company's founder Oscar Engelbert. He, in turn, sees this as the company becoming "rulerless" and has called for an extra general meeting to be held today with the aim, among other things, of electing a new board and chairman. Nordic Property News takes a closer look at the twists and turns at a company in crisis.

Oscar Properties appoints new CEO: "The company must be saved"

Sweden — Oscar Properties' new CEO Richard Bagge gives a few brief comments to Nordic Property News about his new role as CEO and board member in the pressured property company. Among other things, there is new hope around the company's attempt to achieve a reconstruction. CFO Magnus Thimgren adds some additional answer regarding the situation for the company.

Oscar Properties' bankruptcy filing is withdrawn

Sweden — Oscar Properties has reached an agreement with the group's largest creditors who intended to sign the agreement on Wednesday, according to a press release from the company.

Oscar Properties appeals the district courts ruling on restructuring

Sweden — At the beginning of the week Nordic Property News revealed that Oscar Properties had also been rejected on its second restructuring application, while the bankruptcy hearing that was to be held on Monday was canceled pending supplementary documents. Now Nordic Property News can reveal that the company has appealed the decision from the first restructuring application, and here we can tell you more about what Oscar Engelbert and his attorney's write in the appeal.

Oscar Properties denied corporate restructuring again

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

Bondholders files for bankruptcy of Oscar Properties

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