Securum
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Securum was a
The company took over a quarter of the bank's credit portfolio, comprising 3000 credits with 1274 companies (of which 790 were listed companies, the biggest of which was
Securum's design was quite particular and followed proven success factors for a "bad bank": speed and independence to isolate the problem exposures, while simultaneously protecting capital and liquidity of the surviving "good bank" and its operations. In addition, The company management were given free hands. A large number of the credits were unwound by the summer of 1994. Five flotations were executed: Nobelpharma – today Nobel Biocare – Servisair and three property companies: Castellum AB, Norrporten as well as Pandox. By the summer of 1997, Securum itself could be wound down.
See also
- Bad bank
- Swedish banking rescue
References
- Clas Bergström, Peter Englund, Per Thorell, Securum. Och vägen ut ur bankkrisen, 2002, Studieförbundet Näringsliv och Samhälle, ISBN 91-7150-839-2
- Stortingets granskningskommisjon for bankkrisen A Norwegian report about the banking crisis in different countries. (PDF)