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PlusPlus Capital/PlusPlus Capital AS receives Court Approval for Reorganisation

PlusPlus Capital AS receives Court Approval for Reorganisation

2024 Feb 02

PlusPlus Capital AS receives Court Approval for Reorganisation

On 27 December 2023 AS PlusPlus Capital (“PlusPlus”) submitted a petition for the commencement of reorganisation proceedings under the Reorganisation Act (Saneerimisseadus) to the Harju County Court. This decision was made to safeguard stakeholders’ interests.

On 1 February 2024, AS PlusPlus Capital received the court’s ruling on starting the reorganisation proceedings. Together with the ruling, court has appointed reorganisation adviser together with whom PPC will start to prepare the reorganisation plan.

PlusPlus will inform investors about next steps in due course.

PlusPlus Capital AS
Kaarel Raik, Member of the Management Board
Phone: +372 56 606 148

Press release concerning approval of reorganization process.

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 100 thousand claims with nominal value of approximately EUR 274 million, following best practice industry standards. 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.