PlusPlus Capital Financial S.à r.l. Takes Steps for Reorganization

PlusPlus Capital Financial S.à r.l., part of the PlusPlus Capital group, popularly known as PPC, has officially filed a petition with the Luxembourg Court for judicial reorganization. The move aims to protect both the company and its creditors' interests. The Tallinn-based technology-driven receivables management group made this announcement on 29 March 2024, indicating its strategy to navigate through its current challenges while under court supervision.

The legal process initiated by PlusPlus Capital Financial S.à r.l. requires the court to review and decide on the petition within 23 days from its submission. Should the court approve the petition, a stay of proceedings lasting up to four months will be established. This period is designated for negotiations with creditors and the formulation of a plan for reorganization.

Details about the court's ruling and further developments in the reorganization process of PlusPlus Capital Financial S.à r.l. will be shared in the upcoming period, as indicated by the company. PlusPlus Capital, headquartered in Tallinn, Estonia, with operations across the Baltic region and Finland, emphasizes the objective of this reorganization is to maintain stable operations and ensure satisfactory outcomes for all parties involved.