Intrum AB, a Stockholm-headquartered credit management and non-performing loan (NPL) servicing company operating across 22 European countries with approximately 10,000 employees and 80,000+ clients, filed a prepackaged Chapter 11 on November 15, 2024 in the Southern District of Texas (Case No. 24-90575) to restructure approximately SEK 58.4 billion (~$5.3 billion) in debt. The company's distress was driven by elevated European inflation and interest rates, deteriorating credit quality in its NPL portfolio, sharp share price declines and rating downgrades in early 2024 following a Cerberus back-book sale, and a concentrated maturity wall of approximately $3.497 billion due in 2025-2026. At filing, Intrum carried approximately $4.656 billion in funded debt. The fully solicited prepack plan, confirmed on December 31, 2024 (despite a motion to dismiss by a 2025 noteholder group), provided for approximately $573.7 million in new 1.5-lien secured notes through a backstopped rights offering, exchange of existing notes into second-lien instruments at a 10% discount to face with maturity extensions, a two-year RCF maturity extension, 10% equity distribution to noteholders, and full payment to general unsecured creditors. RCF lenders showed approximately 97-100% support and noteholders approximately 73-82% support. The plan became effective on July 24, 2025, and the court entered a final decree closing the cases on August 4, 2025 after successful consummation and implementation of the parallel Swedish reorganization process. General unsecured creditors received 100% recovery.