Oscar Properties plummets after bankruptcy threat

On Friday, the owners will apply to Oscar Properties is declared bankrupt if payment has not been made.

Oscar Properties states that it is conducting a constructive dialogue with the bondholders to find a solution.

Oscar Properties also announced during Thursday evening that the chairman of the board Peter Norman and the board member Markus Dragicevic have notified the company that they are resigning from their duties with immediate effect.

“Oscar Properties has gone through an eventful period during my time as chairman of the board in the company. Unfortunately, the company has had difficult timing when entering the property market and the sharp interest rate increases that have occurred have resulted in the board assignment being changed recently to handle issues for which there are certainly more suitable candidates,” says Peter Norman in a comment.