The application to the Stockholm District Court, requests that the reconstruction may continue until May the 12th 2020. The district court may then decide that the reconstruction shall cease. This is the last extension that is permitted under a formal reconstruction process.
The company has made positive progress during the reconstruction, through the appointment of advisors in Stockholm, as well as the appointment of Marcus Wenner of 180 Grader as administrator. As previously confirmed, a financial funding package to address the reconstruction is ongoing and continued dialogue with creditors and key stakeholders is taking place.
The company currently expects an application for a composition negotiation to be made no later than in the middle of March 2021.