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ARTICLES TAGGED WITH "Richard Bagge"

Oscar Properties in bankruptcy – can't afford to appeal

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

Oscar Properties' bankruptcy postponed until October 31

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Bankruptcy application against Oscar Properties withdrawn: "We have be given some breathing room"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

Another Oscar Properties company faces bankruptcy

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

Oscar Properties' CEO cannot rule out more liquidated subsidiaries

Sweden 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 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 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.

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

Sweden 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.