PlusPlus Capital Financial S.à.r.l. / XS2502401552
19.04.2024 - 18:00:07PlusPlus Capital Financial S.à r.l. receives court approval to start Reorganization process
| PlusPlus Capital Financial S.à.r.l. / Key word(s): Legal Matter 19.04.2024 / 18:00 CET/CEST The issuer is solely responsible for the content of this announcement. Tallinn, Estonia, 19 April 2024. PlusPlus Capital Financial S.à r.l., a private limited liability company (société à responsabilité limitée) governed by the laws of the Grand Duchy of Luxembourg, with registered office at 1, rue Jean Piret, L-2350 Luxembourg Grand Duchy of Luxembourg registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés de Luxembourg (RCS)) under the registration number B268205 (the "Issuer"), the wholly-owned subsidiary of AS PlusPlus Capital has received approval from the District Court of Luxembourg (the “Court”) on 12 April 2024 to undertake a judicial reorganization in the form of a collective arrangement in accordance with Luxembourg law (the "Decision"). 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. Contact: PlusPlus Capital Kaarel Raik, Member of the Management Board Email: kaarel.raik@plusplus.ee Phone: +372 56 606 148 About 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. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| 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 |
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