Intrum Justitia Norge AS has been granted a license to conduct collection operations

Kredittilsynet, the Financial Supervisory Authority of Norway, which oversees debt collection, has decided today to grant a debt collection license to Intrum Justitia Norge AS, which means Intrum Justitia can continue to pursue operations in Norway. Intrum Justitia Norge AS was established in November 2007.

Intrum Justitia has been working since 2005 to improve routines and processes in its Norwegian operations. The regrettable errors in the routines that were discovered in summer 2007 and led Kredittilsynet to recall the company’s license to conduct debt collections were quickly resolved without any individuals incurring financial harm. Administrative controls have been strengthened and the new production system has been reviewed and revised by a Norwegian external auditing firm. Changes have also been made in the Norwegian subsidiary’s management and board of directors.
“Naturally we are pleased with Kredittilsynet’s decision to grant Intrum Justitia Norge AS a license. We see the decision as confirmation that we can continue to build our business in the Norwegian market, and it is positive for both our clients and employees,” says Jan Graesvik from Intrum Justitia AS.
Today’s decision does not affect Intrum Justitia’s appeal to the Ministry of Justice of Kredittilsynet’s November 2007 decision to recall the company’s license.