I was right the first time

It was the condominium association Innovation and not DSAM Sverige AB that last requested Oscar Properties Holdings AB (OP) into bankruptcy and then withdrew it after the the parties agreed yesterday. DSAM Sweden AB were the ones who applied for (OP) in bankruptcy on the previous occasion.

The Stockholm district court was supposed to have decided on bankruptcy at 11 a.m. yesterday, but after the parties approached each other, the deadline was moved to 2 p.m. The parties came to an agreement and the threat of bankruptcy was averted this time as well. Trading was volatile in (OP) yesterday and just before 2 p.m. the price was up 400% compared to the opening price.

It will be exciting to see if (OP) also survives the next bankruptcy filing. The Swedish Tax Agency has requested Oscar Properties into bankruptcy. The reason for this is because of a tax debt of just over $180,000. That hearing will be held on August 22.

It is the fifth time the company has been subject to a bankruptcy filing.