The Stockholm District Court has decided to postpone the decision on bankruptcy for the crisis-stricken real estate company Oscar Properties until October 31, reports the newspaper Expressen.
The decision was expected on Thursday, but was postponed after Oscar Properties' CEO Richard Bagge requested a reprieve, citing the possibility of additional funds coming into the company to cover a debt to the Tax Authority, which is the basis for the bankruptcy petition.
The company has provided an explanation for how it will settle its debts and we find it credible, says the Tax Authority's Caroline Schauman to the newspaper.
According to CEO Richard Bagge, the company hopes to have received an additional 25 million kronor by the end of October. However, he refuses to comment on where the money will come from.
It's business secrets, he says to Dagens industri.
