Published 2024-02-12 11.26
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fullscreenOscar Properties is, among other things, behind the well-known “North Towers” in Stockholm. Photo: Lotte Fernvall
Oscar Properties has debts that cannot be paid.
Now the property company is being asked to go bankrupt, writes The Express.
The property company Oscar Properties has long struggled with the economy.
At the beginning of January this year, the company was asked for bankruptcy by a condominium association in Norra Torren, the landmarks at Torsplan in Stockholm that were Oscar Properties’ prestige project.
The bailiff finds nothing
Now it is the real estate company DSAM Sverige AB that is requesting Oscar Properties into bankruptcy, writes The Express.
– It concerns a property deal where Oscar Properties backed out, they did not complete the deal. It’s actually money that should go to the brokers for the deal that didn’t go through. We don’t know if they have money or not. But we always go “by the book”, says CEO Daniel Özboyaci to the newspaper.
The bailiff has not been able to find any garnishable assets at Oscar Properties that can be used to pay the debt. This is what the authority writes in an investigation from January.
The stock falls over 16 percent after the announcement, writes TT.
Oscar Properties gets its name from the founder Oscar Engelbert, who started the company in 2004.
Engelbert quit as CEO last fall.
