Activist fund Fir Tree is one of the bondholders who have sued Intrum, writes Dagens Industri. Fir Tree has also sued the real estate company SBB.
The dispute concerns changes to bond terms that the hedge funds believe are invalid, and on Friday a lawsuit was filed with the Stockholm District Court.
Other hedge funds suing Intrum are Master Fund, Diameter Master Fund and Caius Capital Master Fund.
"Intrum has wrongly announced that the bondholders concerned approved a change of terms on November 15, 2024, despite the fact that the applicable quorum and voting majority requirements were not met," the application states, according to the newspaper.
Intrum AB, formerly Intrum Justitia AB, is a Sweden-based Credit Management Services (CMS) company. The Company offers services covering the entire credit management chain, ranging from prospecting and segmenting to payment management services, collection and financial services. Its offering includes credit optimization services; such as credit decisions, credit monitoring and credit information, as well as consultancy and advisory services; payment services, such as sales ledger services, reminder services and e-commerce services, as well as VAT refund services, and collection services, such as debt collection and debt surveillance services, as well as worldwide debt collection services. The Company also offers a range of solutions for different type of businesses. The Company has a number of subsidiaries based in Denmark, Italy, Lithuania, Portugal, Switzerland, and the United Kingdom, among others.
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ESG MSCI
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