CORRECT: NC Advisory AB May Need Capital If Tax Case Lost: DI

Nordic Capital’s Swedish advisory firm NC Advisory AB is confident it will win a court case against Sweden’s tax agency, which demands that private equity firm pays retroactive additional taxes of SK702m, Dagens Industri reports, citing NC Advisory. * Nordic Capital’s Swedish advisory firm has consulted more than 20 lawyers, which are all convinced it will win, its CFO Klas Tikkanen says, according to Dagens Industri * Court proceedings involving NC Advisory, tax agency start later this year; final ruling likely before Christmas: DI * NC Advisory has SK75m in own capital and wouldn’t be able to pay the tax authorities’ demand if it loses the case and payment of the additional taxes isn’t deferred; would need more capital to avoid bankruptcy if it loses case: Tikkanen * NOTE: Related article: Sweden’s Carried Interest Tax Crusade Jeopardizes Haven Status

(Corrects to clarify name of entity involved in tax case in headline, from first paragraph.)
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