2024 March 19
PlusPlus Capital continues growth course in 6M 2022
Invitation to update call on 25 March 2024
Tallinn, Estonia, 19 March 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, announces that the Management Board of PlusPlus Capital Financial S.à r.l., representing the subsidiary and largest creditor of the parent company AS PlusPlus Capital, intends to vote in favor of the reorganization plan of AS PlusPlus Capital, as the ability of PlusPlus Financial S.à r.l. to meet its obligations to its creditors is directly and inevitably related to the liquidity of the parent company.
The restructuring plan of AS PlusPlus Capital was submitted to creditors on 12 March 2024. The deadline for the adoption the restructuring plan is 26 March 2024 and the deadline for submission of the restructuring plan to the Harju District Court for approval is 01 April 2024.
PlusPlus Capital Financial S.à r.l. intends to file its petition for the reorganization under the supervision of Luxembourg Court on 26 March 2024 in order to safeguard the interests of the company and its creditors. Pursuant to the applicable laws, the court must examine the petition and issue a ruling on it within 21 days of its filing. Once the judicial reorganization has been initiated, the court will set a stay of proceedings for a maximum of four months to negotiate with the creditors and draw up reorganization measures.
PlusPlus Capital Financial S.à r.l. is confident that the restructuring of its obligations under similar principles as set forth in the reorganization plan of the parent company, will enable PlusPlus Capital Financial S.à r.l. to cope with the financial difficulties, taking into account the interests of PlusPlus Capital Financial S.à r.l., its creditors and other relevant stakeholders.
Update Call:
PlusPlus Capital cordially invites investors and analysts to an update call with the Management on 25 March 2024, 10.00 CET.
The Management Board will comment on the progress of the reorganization by means of a webcast presentation. The update call will be held in English and will be recorded.
Please register in time to participate in the update call at:
PlusPlus Capital – Update Call PlusPlus Capital S.à r.l. Reorganization.
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.