Case Study

KikoSpace AG v. Bräcke Fastigheter AB — Full Recovery

A Swiss company recovers SEK 4.97M from a Swedish counterparty that denied the debt existed. Five court decisions across every instance — from District Court refusal to Supreme Court finality. This is how we operate: persistent, methodical, and successful where others wouldn’t try.

Invested
€200,000
July 2025 · Company acquisition
→
Recovered
€440,000
February 2026 · Full distribution
220% return in 7 months
Recovering “old” 2022 debt that others couldn’t collect. We evaluated what others overlooked — and delivered.

“This is unique in my 40 years. A foreign company challenged the court’s refusal, won on appeal, and still recovered — even after the property changed hands.”

— Advokat Rolf Lohse, Bankruptcy Trustee
Bräcke Fastigheter AB — the facility in northern Sweden that served as collateral
The property in Bräcke, northern Sweden — the real estate that served as collateral. Sold during bankruptcy proceedings. KikoSpace AG still recovered in full.
Case Timeline

From refusal to Supreme Court — every step documented.

April 2023
District Court refuses bankruptcy application
Östersunds Tingsrätt dismisses the case. Bräcke Fastigheter AB contests the debt entirely, arguing no valid loan agreement existed and that Daniel Molin (board member) had not signed the credit agreement.
Court decision (10 pages)
January 2024
Court of Appeal overturns — remands case
Hovrätten för Nedre Norrland overturns the district court. Extensive email evidence between the parties strongly supports the existence of the credit agreement and Daniel Molin’s signature. Case remanded for continued proceedings on insolvency.
Court decision (8 pages)
February 2024
Bankruptcy declared
Second hearing after remand. Bräcke Fastigheter AB found insolvent — no seizable assets, unpaid taxes and penalties, no evidence of solvency. Advokat Rolf Lohse (Advokatfirman Back & Lohse, Östersund) appointed as bankruptcy administrator.
Court decision (10 pages)
June 2025
SEK 4,976,526 distributed to KikoSpace AG
Bankruptcy concluded. Full recovery: capital SEK 4,772,300 + interest SEK 420,000. Administrator fee: SEK 310,000 (incl. VAT). Bankruptcy closed under Chapter 11 Section 18 of the Bankruptcy Act.
Distribution order (3 pages)
December 2025
Supreme Court denies leave to appeal
Bräcke Fastigheter AB (in bankruptcy) sought leave to appeal the distribution decision. Högsta Domstolen denied leave. The Court of Appeal’s decision stands as final. All court instances exhausted.
Supreme Court decision (2 pages)
Court Decisions

5 decisions. Every court instance. All public.

Every court decision from this case is available below. These are official Swedish court documents — independently verifiable through the Swedish courts system.

Court decision — Bankruptcy Application Refused
View PDF
Östersunds Tingsrätt · Case K 802-23
Bankruptcy Application Refused
18 April 2023 District Court
KikoSpace AG applied to have Bräcke Fastigheter AB declared bankrupt based on a credit agreement for EUR 400,000. The defendant contested the claim entirely, arguing no valid loan agreement existed. The district court dismissed the application.
Court decision — Appeal Remanded
View PDF
Hovrätten för Nedre Norrland · Case K 787-23
Court of Appeal Overturns — Case Remanded
16 January 2024 Court of Appeal
KikoSpace AG appealed. The Court of Appeal overturned the district court’s decision, finding that extensive email evidence between the parties strongly supported the existence of the credit agreement and Daniel Molin’s signature. Case remanded for continued proceedings on insolvency.
Court decision — Bankruptcy Order
View PDF
Östersunds Tingsrätt · Case K 173-24
Bankruptcy Declared
1 February 2024 District Court (remand)
Second hearing after remand. Bräcke Fastigheter AB found insolvent — no seizable assets, unpaid taxes and penalties, no evidence of solvency. Bankruptcy declared. Advokat Rolf Lohse appointed as administrator.
Court decision — Final Distribution
View PDF
Östersunds Tingsrätt · Case K 173-24
SEK 4,976,526 Distributed to KikoSpace AG
26 June 2025 District Court (distribution)
Bankruptcy concluded. Distribution confirmed: capital SEK 4,772,300 + interest SEK 420,000 = total claim SEK 5,192,300. Net distribution to KikoSpace AG: SEK 4,976,526 after administrator costs (SEK 310,000 incl. VAT).
Court decision — Supreme Court Leave Denied
View PDF
Högsta Domstolen (Supreme Court) · Case Ö 8243-25
Supreme Court Denies Leave to Appeal
3 December 2025 Supreme Court
Bräcke Fastigheter AB (in bankruptcy) sought leave to appeal to the Supreme Court regarding the distribution decision. Leave denied. The Court of Appeal’s decision stands as final. Case closed.
Supporting Documents

Financial proof.

The acquisition and recovery are documented with original financial records.

Share purchase agreement (SPA) — document will be added
Payment receipt #1 — €200,000 acquisition — document will be added
Payment receipt #2 — €440,000 recovery — document will be added
Media Coverage

Press and public record.

Östersunds-Posten · March 2023
“Bräcke Fastigheter begärs i konkurs av schweiziskt bolag”
Local newspaper covers the Swiss company’s bankruptcy filing against a Swedish property company in Bräcke municipality.
Read article (Swedish)
Your Claims May Be Next

We recovered €440K from one case.
The DRA targets €500M.

If you operated a data center in Sweden between 2017 and 2023, your claims may be worth pursuing. Book a confidential call to discuss your situation.

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