The company claims it is trying to restructure its financial situation as it has struggled during the pandemic years and now from the energy crisis
OR Insidethe largest operator debt collection in Europesaid Friday that it will file for bankruptcy protection in the US.
The company claims that he tries to restructure his financial situation as she struggles in her years pandemic and now from energy crisis and high interest rates.
The association’s bell began to ring when it was end of June Intrum‘s net debt stood at 49.4 billion Swedish kroner ($4.69 billion) at the end of June, as reported Reuters.
“Intrum expects that, following the pre-defined Article 11 process and the reorganization process of the Swedish company, there will be sufficient space and liquidity for the her business plan and be positioned for long-term growth and success,” the company said in a statement.
The agreement of 73% of the bondholders for his debt restructuring, a percentage sufficient to file Article 11 of the US bankruptcy code, but less than the 75% required to qualify for the simpler procedure provided for by UK law or the 90% threshold that would allow him to proceed with him. a completely voluntary restructuring process.
Achieving a higher level of bondholder consent for its debt restructuring plan would simplify its implementation and reduce costs, Intrum CEO Andres Rubio said in July, adding that A 90% consensus would be the best developmentadding that the minimum requirement is the agreement of 2/3 of the bondholders.