Sweden’s Intrum Wins Chapter 11 Plan Confirmation in the US (1)

A US bankruptcy judge has confirmed the debt restructuring plan of Sweden’s Intrum AB despite the opposition from a minority group of creditors, clearing a major obstacle for the debt collector.

“Nothing here was intended to defraud or to intentionally designed to harm a particular creditor group,” Judge Christopher Lopez said Tuesday. “This was a good faith filing.”

The ruling came after a days-long hearing in Texas, where attorneys of Intrum and opposing creditors argued over the validity of the company’s US bankruptcy filing.

Lopez said he found there was “current financial distress” in Intrum’s case, striking down one of ...