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Liv I-Hope files for reconstruction after IVO decision |

Liv I-Hope files for reconstruction after IVO decision |

The care company Liv Ihop, as well as five of the company’s subsidiaries, today filed an application for reorganization of the company in the Stockholm District Court, in light of the Swedish Health and Welfare Inspectorate, the decision of IVO of October 22, 2021 to revoke the company’s license to conduct licensed activities. An IVO’s decision is without prior decision on an injunction to correct the deficiencies. It appears from a press release. Liv I-Hope also announced that the company had asked to block IVO’s decision on the grounds that the CEO would have “irreversible and irreparable consequences.”

– The IVO’s decision entailed the risk of a liquidity shortfall and through the given restructuring, the company is given time to address the shortcomings pointed out by the IVO in an orderly manner, writes Liv Ihop, and continues: The notice means, among other things, that the company cannot live up to Conditions that make it unavailable to the company.

The purpose of the company reorganization is to give the company time to restructure its operations, which may include drastic changes in company ownership, in order to meet the IVO’s notes. Liv I-Hope writes that the intended actions are intended to be presented in the reconstruction plan that will be presented in the initial phase of reconstruction.

Request to block the decision of IVO

Life Together was founded in 2011.

Permits canceled by IVO include personal assistance, counselor support, and running activities with subsidized housing with a focus on youth aged 16-20.

The reason for the IVO’s decision is that the Authority considers that the Liv Ihop does not meet the suitability requirements in other aspects of Section 23, third paragraph of the LSS.

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The reasons for evaluating an IVO are that the legal person Liv saman and other companies in the group do not meet the requirements of suitability in other respects and that the natural persons with controlling influence in the legal person do not meet the requirement of suitability in others respects, writes Liv Ihop.

In its assessment of the legal entity Liv Ihop AB, IVO notes, among other things, incorrect reporting to the Swedish Tax Agency, which arose from the Swedish Tax Agency’s audit of the company in October 2017. According to the audit, the company has a deduction for representation costs for representative and then-owner Robert Palm with the company’s operations. The actors were later convicted in Stockholm District Court on tax charges.

The IVO further states that the constituency that will be subject to the suitability test, in addition to the owners of at least 10 percent of the shares, the board of directors, the chief executive officers, must also include three other members of the Palm family.

– Lev Saman believes that IVO’s assessment of the potential to remedy the deficiencies is incorrect and that the Company has the ability and, in fact, the opportunity to remedy the deficiencies. The business plans include, among other things, replacing the principal owner of the company with a new owner who has nothing to do with the Palm family at all, Livehub writes and continues:

– Lev Samin will appeal the IVO’s decision by clearly showing how the deficiencies were addressed, and believes that there are good reasons to assume success on the appeal. IVO had no opinions about the core business, which is now sound and profitable, which will be shown in the company’s upcoming interim report for the January 1 to September 30 period.

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The subsidiaries that have applied for reorganization are Liv saman Syd AB, Liv saman Sydost AB, Atlas Assistans AB, Liv saman LSS AB and Svea Assistans in limited partnership.

For the company and other group companies, Lars Eric Gustafsson of law firm Schjødt has been proposed as a candidate for restructuring.