Sweden’s TrustBuddy filed for bankruptcy in October when it recruited a new management team which discovered several breaches of regulation.
After the lenders opposed a sale of stock, Lars-Henrik Andersson, Partner at Lindahl, the law firm acting for TrustBuddy, said the bankruptcy estate had asked collections agencies to submit offers on collecting the claims on behalf of the lenders.
“We received two well-grounded offers, meaning a final cost for the lenders amounting to 25% of recovered claims' following nine months after starting the collection,” added Lars.
“During the first nine months the agencies would not charge any fees.
“ln addition to these costs, there would be costs for the bankruptcy estate to deal with the collection on behalf of the lenders.”
Lindahl is urging investors to act and stressed the urgency of the collection claims process to get started.
Leave a comment