Contrary to Intrum Justitia’s expectations, the court ruled in favour of the seller of the portfolio. The court verdict implies that Intrum Justitia will need to acquire certain disputed batches of debt at the originally agreed price of about EUR 5,3 million, as well as reimburse the seller for accrued interest and legal costs.
Intrum Justitia does not agree with the court ruling and will therefore initiate an appeals process. However, due to the negative court ruling, Intrum Justitia has decided to fully provide for the estimated potential costs in the financial results for the first quarter of 2012. The additional provision will amount to about 51 MSEK, of which 42 MSEK will be charged as a negative revaluation against revenue.
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