Oscar Engelbert, founder of the crisis-ridden real estate company Oscar Properties, is petitioning for his private company Parkgate to be declared bankrupt, reports Expressen.
According to the newspaper, Engelbert submitted a bankruptcy application to the district court on Friday.
Oscar Engelbert resigned as CEO of Oscar Properties last year and announced in May that he would leave the board.
The real estate company has had major financial problems and has been on the verge of bankruptcy for a long time. As recently as August, the company avoided bankruptcy after the Stockholm-based housing association Innovationen withdrew its bankruptcy application.
The Tax Authority has also petitioned for Oscar Properties to be declared bankrupt since the company has debts to the state that the Enforcement Authority has been unable to collect. A decision is expected from the Stockholm District Court at the end of October.
