EQS-News: PlusPlus Capital Financial S.à.r.l.
/ Key word(s): Legal Matter
PlusPlus Capital Financial S.à r.l. receives court approval to start Reorganization process Pursuant to the terms of the Decision, the Court granted the Issuer a stay of proceedings for a period of up to four months, expiring on 12 August 2024 with regard to its payment obligations relating to the senior secured bond with ISIN XS2502401552. Every creditor of the Issuer holding a senior secured bond with the ISIN XS2502401552 will receive individual notification of the Decision via the clearing system or any other acceptable electronic medium. Additionally, each creditor holding a senior secured bond with the ISIN XS2502401552 will be individually informed of its respective claim amount and any security or lien securing those claims. During the stay granted by the Court, the Issuer will engage in negotiations with its creditors and prepare a reorganization plan. The reorganization plan will be presented to the creditors and ratified through voting process. The final approval of the reorganization plan will occur during a court hearing. More detailed information about the Decision can be found here. PlusPlus Capital will inform the creditors about the further steps of the reorganization process in due course. PlusPlus Capital PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics. Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 270 million. The company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors. PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market. pluspluscapital.eu 19.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | PlusPlus Capital Financial S.à.r.l. |
| 1 rue Jean Piret | |
| L-2350 Luxembourg | |
| Luxemburg | |
| E-mail: | info@pluspluscapital.eu |
| Internet: | https://pluspluscapital.eu/ |
| ISIN: | XS2502401552 |
| WKN: | A3K7UD |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1885145 |
| End of News | EQS News Service |
1885145 19.04.2024 CET/CEST
