PlusPlus Capital Initiates Reorganization Proceedings

PlusPlus Capital (PPC), a major pan-Baltic and Finnish receivables management firm, has successfully initiated court-sanctioned reorganization proceedings. Following an earlier court decision to dismiss a bankruptcy petition, Harju County Court approved the company's reorganization request on 24 April 2025. Sworn attorney Urmas Ustav has been appointed as the reorganization adviser. Management believes this route is beneficial for all stakeholders and plans to collaborate closely with Ustav to ensure a favorable outcome.

Additionally, Reimo Tomingas, PPC's CEO, has resigned for personal reasons. Kaarel Raik will remain on the Management Board. The company plans to update investors on forthcoming steps in the reorganization process.