OSLO (Reuters) - Sweden's Intrum, Europe's biggest debt collector, on Tuesday said it was seeking a settlement with creditors who object to the company's debt restructuring plan. Intrum last month
Intrum Aims for Creditor Settlement in Chapter 11 Plan
OSLO (Reuters) - Sweden's Intrum, Europe's biggest debt collector, on Tuesday said it was seeking a settlement with creditors who object to the company's debt restructuring plan.
Intrum last month filed for Chapter 11 bankruptcy in the United States in a bid to restructure its debt, which reached 49.4 billion Swedish crowns ($4.53 billion) at the end of September.
Some creditors, collectively known as the 2025 Ad Hoc Group, have objected to the plan for a so-called pre-packaged Chapter 11 restructuring, jeopardising the scheme.
If an agreement is found, the 2025 Ad Hoc Group would withdraw its challenges to the plan and support transactions to recapitalise the company, Intrum said in a statement without elaborating.
($1 = 10.9104 Swedish crowns)
(Reporting by Terje Solsvik, editing by Essi Lehto)
