Oscar Properties is filed for bankruptcy once more. Now by a property company that almost two years ago sold a stock to OP.
– We are in a tight spot like everyone else in the industry, says chairman of the board Peter Norman to Expressen.
Oscar Properties intends to contest the bankruptcy filing.
It is the real estate company DSAM Sverige AB that has now filed for bankruptcy of Oscar Properties.
DSAM Sverige AB, which is co-owned by Daniel Özboyaci, sold three properties in Veddesta in Järfälla to Oscar Properties in March 2022 for SEK 217 million. But the deal didn’t go through.
– It concerns a real estate deal where Oscar Properties backed out, they did not complete deals. It’s actually money that should go to the brokers for the deal that didn’t go through. We don’t know yet if they have money or not. But we always go “by the book”, says CEO Daniel Özboyaci The Express who made the disclosure.
The transaction took place at a time when Oscar Properties was under pressure but still on the offensive. The goal was to build up a portfolio worth SEK 20 billion according to the new business model with commercial investment properties, preferably those with vacancies.
The bailiff has not been able to find any garnishable assets at Oscar Properties that can be used to pay the debt. This is what the authority writes in an investigation from January, Expressen reports
Özboyaci is behind real estate companies such as ADR and KTI Fastigheter.
Oscar Properties’ major owner and founder Oscar Engelbert was recently personally sued for 100 million by Peter Eriksson Fastighets AB. His power company Parkgate has been filed for bankruptcy by the same counterparty regarding a dispute over SEK 40 million.
Oscar Properties has previously been asked to go into bankruptcy by a condominium association, but there the parties reached an agreement.
Oscar Properties has been informed that DSAM has applied for the company to be placed in bankruptcy as a result of an agreement entered into with DSAM which DSAM considers that the company has not complied with. Oscar Properties intends to contest the bankruptcy filing.
Oscar Properties further states that work on a joint plan for liquidating the group’s debts and securing its assets continues together with Lars Söderqvist and Wesslau Söderqvist Advokatbyrå.
