Oscar Properties, which is behind several exclusive residential buildings in Stockholm, has not shown, according to the court, that there is "good reason to assume that the company's viability can be secured through reconstruction".
The decision will be appealed to the Court of Appeal with a request for expedited handling, according to the company.
But already on Monday, the same district court will decide on a housing association's application to declare the property company bankrupt.
"They have achieved their goal, a likely bankruptcy on Monday", writes Oscar Properties' CEO Richard Bagge in a press release. He adds that he hopes they are "satisfied".
"In the event of bankruptcy, the outcome for them will be zero, zilch as they say in English. I have tried to explain this to them so many times", he writes.
The Tax Agency has also requested that Oscar Properties be declared bankrupt since the company has two million kronor in debts to the state that the Enforcement Authority has not been able to collect, according to DI.
