PlusPlus Capital Successfully Obtains Court Order for Initiation of Reorganization Proceedings
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EQS-News: PlusPlus Capital Financial S.à.r.l.
/ Key word(s): Legal Matter
PlusPlus Capital Successfully Obtains Court Order for Initiation of Reorganization Proceedings Harju County Court granted the Company’s motion to dismiss the bankruptcy petition and to release the temporary trustee on 21 February 2025. Subsequently, the Company submitted a petition for reorganization. By order dated 24 April 2025, the court initiated the reorganization proceedings and appointed sworn attorney Urmas Ustav as reorganization adviser. The Company’s management believes the reorganization to be the best solution for all parties involved and is fully committed to working with the reorganization adviser to develop a reorganization plan and achieve a successful outcome. Moreover, Reimo Tomingas, CEO and Member of the Management Board, has resigned from office for personal reasons. The Company thanks Reimo Tomingas for his contributions and wishes him success in the future. Kaarel Raik will continue as a Member of the Management Board. PlusPlus Capital will inform investors about the next steps in 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.
25.04.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| 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: | 2124648 |
| End of News | EQS News Service |
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2124648 25.04.2025 CET/CEST
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