PlusPlus Capital AS receives Court Approval for Reorganization

PlusPlus Capital AS receives Court Approval for Reorganization

Tallinn, Estonia, 2 February 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, has received approval from the Harju District Court in Estonia to undertake reorganization proceedings of Aktsiaselts PlusPlus Capital (the “Parent Company”) under the Reorganization Act (“Saneerimisseadus”). Furthermore, the court has appointed a restructuring advisor who will support the Parent Company in the preparation of the restructuring plan. PlusPlus Capital welcomes the court's decision and the start of the reorganization proceedings.

In view of the current situation, PlusPlus Capital Financial S.à r.l. (the “Issuer”) is also preparing to file for reorganization proceedings in Luxembourg.

PlusPlus Capital will inform investors in a timely manner about the reorganization plan for the Parent Company as well as the filing of reorganization proceedings in Luxembourg for the Issuer.

Contact:

PlusPlus Capital
Kaarel Raik, Member of the Management Board
Email: kaarel.raik@plusplus.ee
Phone: +372 56 606 148

About 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 300 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.

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