The company with 9 lives

Oscar Properties Holding AB (OP), a Swedish company that is listed on the Swedish stock exchange and whose business idea is to buy, develop and sell properties in attractive locations in Stockholm and other metropolitan regions, has been requested to go bankrupt for the fourth time. The previous applications have been withdrawn. This time it is a condominium association, Brf Innovationen, which has applied (OP) for bankruptcy.

Because of this, Richard Bagge, CEO (OP) issued a press release on August 7, 2024 that received a lot of attention. In this press release, Richard Bagge wrote quotes "At the same time, I can hope that Brf Innovationen are satisfied. They have achieved their goal, a probable bankruptcy on Monday. In a bankruptcy, the outcome for them will be zero, zilch as they say in English, I have tried to explain to them so many times, both by phone and email. They are left with their attorney's bill that they hope the estate will pay, but they have to join all the other creditors." unquote.

An attorney with knowledge of (OP) tells a Swedish newspaper that he quote "would not be surprised if some kind of settlement proposal suddenly appeared from the company's side". unquote.

Tomorrow, August 12, 2024 at 11 a.m. (GMT+2) we will know if (OP) survived another bankruptcy filing or if this was the last nail in the coffin for the company.