Reorganization Plan for AS PlusPlus Capital rejected by Tallinn Circuit Court – Company will now appeal the decision to the Supreme Court

Reorganization Plan for AS PlusPlus Capital rejected by Tallinn Circuit Court – Company will now appeal the decision to the Supreme Court

Tallinn, Estonia, 6 December 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, was informed of the denial of the Tallinn Circuit Court regarding the homologation of the reorganization plan (the “Plan”) of its parent company AS PlusPlus Capital (the “Parent Company”).

As announced in the news release dated 7 October 2024 and based on the broad support received from investors, AS PlusPlus Capital had sought to obtain approval for the Plan, which had previously been rejected by the Harju County Court, by appeal to the Tallinn Circuit Court.

Although the Tallinn Circuit Court rejected the appeal, the Parent Company strongly believes in the chosen course of action and will continue to do everything in its power to obtain approval for the Plan in the end.

Kaarel Raik, Member of the Management Board of PlusPlus Capital: “While the court addressed and rectified certain aspects of the lower court's decision, the reorganisation plan was ultimately not approved. Following initial discussions with our legal counsel, we see grounds and potential to question this decision, too, and we will definitely appeal it to the Supreme Court in order to receive approval of the reorganization plan.“
 

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 270 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.

pluspluscapital.eu