More specifically, the Group has obtained the necessary approvals from its lenders and anticipates court approval by the end of the year, utilizing Chapter 11, a commonly employed mechanism in similar proceedings. According to sources from Intrum, Chapter 11 is considered a reliable and efficient tool for facilitating such processes.
The restructuring effort focuses on the capital strengthening and refinancing of the Group's outstanding liabilities.
It is important to note that the Greek supervisory authorities are being kept fully informed of each stage of the process.
The Group's capital restructuring will not impact its ongoing operations, nor will it affect Intrum's activities in Greece, where the company's turnover for the fiscal year 2023 amounted to €223 million.
According to the company, consensual resolutions are reached in over 90% of cases. Moreover, in the context of the out-of-court settlement mechanism, which predominantly handles debt cases exceeding €250,000, the approval rate for such settlements exceeds 80%.
