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Insolvency in Sweden

Cirio Advokatbyrå AB

Cirio Advokatbyrå AB fields a ‘very aligned team full with talent and experience’ which ‘can manage the biggest insolvency matters in Sweden’. The practice of ‘experienced bankruptcy receivers that are familiar with large transactions’ covers all insolvency related matters and ‘delivers top-class services, specifically in work-outs’. Practice heads Lars-Henrik Andersson and Pierre Pettersson have ‘strong and longstanding experience of working within large and complex cross-border restructurings’ and ‘get things done’. Karl Björlin is among ‘the most knowledgeable and skilled practitioners within the insolvency field‘ and has ‘the expertise and experience required to advise on every potential matter of bankruptcy’. Odd Swarting is also noted.

Other key lawyers:

Karl Björlin; Odd Swarting


‘They have extensive experience in insolvency law issues.’

‘Pierre Pettersson is pragmatic and quickly sees the relevant issues.’

‘The team is solid with vast experience. In cooperation with the firm’s general banking and finance and M&A practices the team delivers top-class services, specifically in work-outs.’

‘Lars-Henrik Andersson – super-experienced, knowledgeable and pragmatic. Pierre Pettersson – solid, business-minded and pragmatic.’

‘I’ve used Cirio for several years. They are very practical, to the point. They also have a very good reputation among the Swedish community, as well as management as well as various authorities.’

‘I’d like to point out Lars-Henrik Andersson – he is extremely well known among his Swedish colleagues as well as various clients. He has a very strong and longstanding experience of working within large and complex cross-border restructurings.’

‘Good team with experienced bankruptcy receivers that are familiar with large transactions. Pragmatic approach.’

‘Lars Henrik Andersson stands out.’

Key clients

BIG Travel Sweden

Vasakronan AB


Swedish Government (Regeringskansliet)


BST BrandSkyddsTeamet Group

Axxonen Group

Work highlights

  • Advised on and was appointed administrator of the successful restructuring of BIG Travel Sweden – one of Sweden’s largest Travel Agencies, with nationwide and pan-Scandinavian operations.

Advokatfirma DLA Piper Sweden KB

Advokatfirma DLA Piper Sweden KB has ‘one of the best insolvency departments with experience and knowledge in almost all sectors’. The team ‘has a long and proven track record within insolvency issues’, recently handling some of the largest insolvency mandates in Sweden as well as non-formal restructurings and refinancings. Practice head Jonas Premfors is ‘an experienced insolvency lawyer that can handle all legal issues within his field’ and is considered ‘one of the top names in Sweden today’. Kent Hägglund and Lars Wiking have particular experience in the retail, real estate and financial services industries. Erik Selander has a focus on reorganisations as well as insolvency mandates.

Practice head(s):

Jonas Premfors


‘Very service minded, business oriented and efficient. As a result of their experience they could provide valuable insight in the strategy of the counter party.’

‘DLA Piper has a long and proven track record within insolvency issues. I have retained their services in different aspects of insolvency issues for a number of years and I have always been happy with the legal advice and support I have received.’

‘Jonas Premfors is an experienced insolvency lawyer that can handle all legal issues within his field. He is good at explaining the legal issues and motivation why something is done (or not done) and he is really nice to work with.’

‘High degree of service with outstanding industry knowledge.’

‘Experience, availability.’

‘DLA as a firm has seen fantastic growth during the last five to ten years. They have one of the best insolvency departments with experience and knowledge in almost all sectors.’

‘I would say that they have a good mix of younger/elder partners with Jonas Premfors as their leading star. He deserves all praise as one of the top names in Sweden today.’

Key clients

ADGC Properties

Aitrops Event

Aligera Holding including Aligera Wind Group


Componenta Främmestad

Crystal Retail (Swarovski)

Indiska Magasinet

QV Group

RE Education


SAAB Automobile group of companies


Trinitas Fastigheter group of companies


Rizzo Group (Venue Retail Group)

Dals Konfektyr

Image Group

Moment Group

Gernandt & Danielsson Advokatbyrå

Gernandt & Danielsson Advokatbyrå is adept at handling complex cross-border restructuring and insolvency mandates and fields a dedicated debt capital markets restructuring team covering both the equity and debt sides of restructurings; Björn Svensson has extensive experience in borrowing and equity transactions while Mikael Borg has niche expertise in high-yield bond financings. Caroline Jägenstedt Wikman is experienced in dispute resolution matters relating to insolvency cases and Sofie Viktorsson, who is dual-qualified in England and Sweden, regularly acts on renegotiations with lenders regarding financings.

Key clients



Swedish ATP Management AB

Intertrust (Sweden) AB

Nordic Trustee & Agency AB

Haldex Aktiebolag

Work highlights

  • Acted as lead legal counsel to Nynas in connection with its reorganisation which was initiated in December 2019 and included restructuring of SEK9bn+ of liabilities.
  • Advised Nasdaq Stockholm listed Eniro in connection with the implementation of a plan for a new recapitalisation and composition of Eniro.
  • Advised Swedish ATP Management AB on the restructuring of its maximum senior unsecured callable zero coupons bonds 2019/2022.

Mannheimer Swartling

In the scope of high-stakes out-of-court restructurings, Mannheimer Swartling provides ‘accurate advice’ to a variety of national and international companies in financial difficulty and their board members, shareholders, lenders, equity investors and suppliers as well as trustees in bankruptcies and liquidators. The team's members typically advise on financial restructurings, distressed transactions, preventative planning issues and cross-border reorganisations as well as complex insolvency disputes including clawback proceedings. Daniel Karlsson specialises in debt capital market transactions and restructurings, and Christoffer Monell is focused on dispute resolution.


‘Respond quickly and are easy to communicate with. Accurate advice.’

Key clients

Danske Bank

Nordic Trustee AB


Work highlights

  • Represented Nordic Trustee as agent for holders of bonds and holders of convertible bonds issued by the Swedish listed company Eniro AB, in connection with the formal reorganisation and the associated judicial composition proceedings in Eniro.
  • Represented Danske Bank as super senior facility creditor in connection with the formal reorganisation, and the associated judicial composition proceedings, in certain subsidiaries of the Swedish listed company RNB Retail and Brands AB.
  • Represented SAS AB in connection with its recapitalisation plan.

Advokatfirman Schjødt

Advokatfirman Schjødt has a strong track record in acting as receiver in bankruptcies as well as administrator in company reorganisations. The team, which includes Lars Eric Gustafsson, is considered ‘one of the best teams on the market’ in regard to handling out-of-court financial restructurings and debt restructurings. The group is also adept at handling a variety of issues in connection with insolvencies, including transaction avoidance actions and insolvency related claims, where ‘expert at recovery and litigation in insolvency lawHans Renman is active. ‘Great project leaderEmma Berglund Uväng leads the practice, in which the ‘excellentChristofer Hemsedahl recently made partner and ‘is someone to look out for in the future’. Michael Levin retired.

Practice head(s):

Emma Berglund Uväng


‘Schjødt has a broad expertise in insolvency proceedings. The law firm has experience in working with large cases and has good organisation.’

‘Schjødt has several established partners who have worked on major insolvency assignments. For example, Emma Berglund Uväng is broad in her expertise, easy to work with and makes good business decisions. Hans Renman is an expert at recovery and litigation in insolvency law.’

‘Fast, efficient and trustworthy.’

‘Hands-on and capable.’

‘Ability to liaise and work with the broader team across 3 jurisdictions. Willingness to consider and develop non-standard solutions. Negotiating ability with State agencies. Persistence in pursuing the agreed strategy and overcoming obstacles.’

‘Worked with partners Hans Renman and Christofer Hemsedahl, both excellent.’

‘Strong and experienced team in any insolvency related assignment. One of the best teams on the market.’

‘Pragmatic, thorough and business-minded.’

Key clients

Well Fastigheter Holding AB and Well BRF 2.0 Holding AB

Eniro AB

DAT Trading AB

Hotell Norrtull i Vasastan AB and Ramenco AB

Nynas AB

Smart Living Group

MI Andersson Fastighetsbolag AB

Goyada Aktiebolag, CashCom i Sverige AB and other companies in the group

Metro Media House AB and Tidnings AB Metro

Stockholm Hand & Fotkirurgikliniken AB

Transtema Infrastructure AB

Axxonen Holding AB

Adelsö Entreprenad & Transport AB

Sea Life Group

Constrera AB

Hallberg-Sekrom Fabriksaktiebolag and Hallberg Sekrom Fabriks i Vimmerby AB

Work highlights

  • Advised on the company reorganisation of Nynas.
  • Appointed as official receiver in the bankruptcy of Adelsö Entreprenad & Transport AB in April 2021.

Advokatfirman Vinge

Advokatfirman Vinge houses a full-service insolvency practice with office locations across Sweden. Gothenburg-based Anna Palmérus is frequently instructed as court-appointed receiver on major cross-border bankruptcy cases in all major sectors. The team also has a real strength in out-of-court restructurings and is regularly instructed by major corporates; Albert Wållgren, Morgan Hallén and Henrik Ossborn (respective heads of the Stockholm, Gothenburg and Malmö teams) handle large-scale financial restructurings, distressed M&A and all other corporate resolutions. Sectors of activity include the retail and hospitality industries, and has recently also handled mandates in the oil and gas sector.

Other key lawyers:

Anna Palmérus


‘Vinge has been our solid partner and adviser for many decades. Their set up is perfect.’

‘Morgan Hallén is our main contact and is outstanding together with his team.’

Key clients

ITAB Shop Concept

The Swedish State

Mobylife AB (in bankruptcy)

Work highlights

  • Advised ITAB Shop Concept on a SEK868m recapitalisation.
  • Advised The Swedish State on the recapitalisation of flight carrier SAS.


Wistrand offers both traditional insolvency services as well as out-of-court debt restructuring advice for banks and corporates and has a specialism in insolvencies and liquidations regarding insurance companies as well as corporations from the mining and automotive industries. The team, which is headed up by Christian Bergqvist and Jörgen Wistrand, also has a ‘special focus on insolvency litigation’ and clients praise it as ‘probably the best in the market in this niche’. Anders Nilsson is ‘one of the best bankruptcy administrators in the Swedish market’ and further key practitioners include the ‘competentNina Baecklund, Anne-Marie Pouteaux, Fredrik Thor and ‘exceptional lawyerNiklas Alvestrand Körling.


‘Anders Nilsson (partner) has demonstrated a mix of both very broad and deep knowledge not only related to the legal matters, but also related to the commercial aspects of the challenge that he helped us to solve. In addition, he possesses great intra-personal skills and conducted the negotiations with the counter party – and the contacts with other stakeholders – in a very competent and effective manner.’

‘Anders Nilsson – exceptional advice tailored to fit my needs. Written, verbal, discussions, lengthy, quick – it doesn’t matter what I request, Anders ALWAYS delivers exactly what I need. His level of knowledge in insolvency and connected areas is through the roof.’

‘Very solid practice with wide experience of most insolvency issues. The team have special focus on insolvency litigation and they are probably the best in the market in this niche.’

‘Anders Nilsson – one of the best bankruptcy administrators on the Swedish market, who also has in-depth litigation skills.’

‘Young team with competent lawyers.’

‘The firm has a solid experience within the area and has generally high ratio of partner level in their engagements.’

‘A solid practice for insolvency cases.’

‘Fredrik Thor: Highly skilled and pragmatic, great social skills and innovative approach.’

‘Niklas Alvestrand Körling is not afraid to take on challenging liquidation processes. He is good with relationship management and stakeholder communication.’

Key clients

Sizes Prefab AB


AQ Segerström & Svensson AB

Scana Steel Björneborg AB

Saab Automobile

Swedish association for franchise entrepreneurs and its members

Digital Inn AB

Sulitelma Fastigheter AB

Powerwave Technologies Sweden AB

Adviral AB

Work highlights

  • Appointed as administrator in the company reorganisation of Sizes Prefab AB.
  • Appointed as trustee in the Apple premium reseller chain Digital Inn AB’s and Digital Inn Holding AB’s bankruptcies.

Advokatfirman Cederquist KB

The restructuring and insolvency team at Advokatfirman Cederquist KB is made up of practitioners with backgrounds in banking and finance, capital markets and securities as well as litigation and corporate and M&A. The practice is adept at advising on the unwinding of complex debt and security structures as well as restructurings of corporations. This encompasses advice regarding defaulting credits controlled by private-equity and other private investors as well as controlled enforcements assisting sponsors and banks with the restructuring of the debt. Johan Lundberg heads up the practice and is supported by Svante Hultqvist and Per Henriksson.

Practice head(s):

Johan Lundberg

Other key lawyers:

Svante Hultqvist; Per Henriksson

Key clients

Nordea Bank Abp, filial i Sverige

European Investment Bank (EIB)

Skandinaviska Enskilda Banken AB

Swedbank AB

DNB Bank ASA, filial Sverige

Advokatfirman Fylgia KB

The practitioners at Advokatfirman Fylgia KB are ‘very experienced in insolvency matters’ handling all kinds of bankruptcies and related issues as court appointed receivers, as well as company restructurings and voluntary liquidations. The team, headed up by the ‘very pleasant and professionalJakob Callmander, provides ‘excellent advice on complex matters’ and is active in disputes related to bankruptcies and disputes concerning liability of payments, rights in rem and more. ‘Experienced and easy-going insolvency lawyerMathias Winge frequently acts as administrator in bankruptcies and as counsel for landlords and international creditors in company reorganisations. Lars Nylund and Johan Norén are also noted.

Practice head(s):

Jakob Callmander

Other key lawyers:

Lars Nylund; Johan Norén; Mathias Winge; Thomas Ehrner


‘Pleasant to work with and you feel in safe hands.’

‘Jakob Callmander is very pleasant and professional. Extremely good at making you feel safe as a foreign client in Sweden.’

‘Availability and ability to quickly give excellent advice in complex matters.’

‘Their strength in the insolvency field is their size and number of trustees.’

‘Very experienced in insolvency matters.’

‘Matthias Winge and Thomas Ehrner are very good.’

‘Experienced traditional insolvency team with strong administrative resources. Good firm to work with for local/domestic insolvency.’

‘I mainly work with partner Mathias Winge, an experienced and easy-going insolvency lawyer.’

Key clients

Scandinavian Credit Fund I AB

Intertrust AB (Sweden)

Quinn Investments Sweden AB and 31 of its subsidiaries in bankruptcy

Work highlights

  • Appointed official receiver for the bankruptcies of Bounce Scandinavia Company group.
  • Appointed official receiver for the bankruptcy of Holland & Barrett Sweden AB, the Swedish subsidiary of Holland & Barrett Retail Ltd.
  • Appointed official receiver for the bankruptcy of TeknikMagasinet Sweden AB.

Hannes Snellman

Hannes Snellman has a focus on representing various stakeholders in insolvencies and restructurings, such as creditors, shareholders and board members. The practitioners have backgrounds in dispute resolution, restructurings and finance issues and work in close conjunction with members of other teams, such as the M&A and employment groups, in order to handle distressed transactions at a domestic and cross-border level. Practice head Fredrik Olsson is particularly experienced in private equity related restructurings, while Ola Åhman advises management, creditors and suppliers of insolvent companies. Financing transactions are the specialty of Carolina Wahlby and Maria Orrgard.

Practice head(s):

Fredrik Olsson

Work highlights

  • Advised a franchisor in relation to the bankruptcy of one of its franchisees.


Roschier has notable experience in providing advice to clients in regard to financial restructurings and has particular expertise in bond restructurings. Clients are typically stakeholders such as corporate debtors, lender groups, syndicated lending groups, agents and more, which are advised on debt restructurings, distressed debt trading issues, debt-to-equity swaps and other forms of capital restructuring as well as distressed financings, bankruptcy sales and purchases. Johan Häger is experienced in restructurings of bank loans and bonds and Fredrik Rydin specialises in debt restructurings and workouts.

Practice head(s):

Johan Häger; Fredrik Rydin

Key clients


JOOL Markets AS

Houlihan Lokey


Wow Air

Iceland Air

Nordic Trustee & Agency AB

Work highlights

  • Advised a syndicate of banks and other financial investors regarding the company reorganisation of Nynas AB.
  • Advised an ad hoc group of bondholders and the trustee in connection with the formal company reorganisation and the subsequent restructuring of RNB Retail and Brands AB.
  • Advised an ad hoc group of bondholders in connection with the restructuring of Moment Group AB.


Setterwalls provides advice to clients on all aspects of restructurings as well as insolvency related matters with a focus on debt restructuring matters which involve loan restructurings, distressed debt trading issues and out-of-court refinancings. The team, headed up by finance and arbitration specialist Åke Fors, further advises on contingency planning work, distressed transactions and formal insolvency proceedings. Carl Lindencrona and Mikael Magnusson act for financial institutions, borrowers and investors on workouts and restructurings and are well versed in a variety of debt instruments.

Practice head(s):

Åke Fors


‘I do work with their banking and finance team on various financing transactions and am very pleased with the service provided.’

‘Mikael Magnusson as partner in charge gives satisfactory partner attention to each case.’

White & Case Advokat AB

White & Case Advokat AB is adept at advising clients on all issues pertaining to insolvencies as well as corporate and financial restructurings. This includes advice regarding distressed transactions as well as representation in insolvency proceedings. Stockholm restructuring and insolvency team co-head Magnus Wennerhorn specialises in working on restructurings of leveraged financed companies and co-head Carl Hugo Parment has vast experience with financial restructurings. Oscar Liljeson is focused on leveraged finance work and is further well versed in restructurings and refinancings.

Other key lawyers:

Oscar Liljeson

Key clients

Goldman Sachs

Baker McKenzie

Primarily acting for institutional creditors from Sweden and abroad, Baker McKenzie handles contentious insolvency matters under the guidance of practice head Jonas Benedictsson and new recruit from Advokatfirma DLA Piper Sweden KBErik Forsin. Ongoing highlights pertain to high-value clawbacks in the real estate sector. Former practice head Stefan Bessman left for Westerberg & Partners.

Practice head(s):

Jonas Benedictsson

Other key lawyers:

Erik Forsin

Key clients

Swedish Government

Bank St Petersburg


Work highlights

  • Represented Bank St Petersburg, the Russian bank, in a complex bankruptcy matter, primarily revolving around domicile and jurisdictional issues.
  • Represented Westinghouse Electric UK Holdings and its direct and indirect subsidiaries in connection with the chapter 11 cases of Westinghouse Electric Corporation LLC and its subsidiaries.
  • Acted for Swedish state bank, Riksgäldskontoret, in relation to the protection of its interests as a lender and guarantor to Saab Automobile, which has been insolvent for several years.

Advokatfirman Lindahl KB

The practitioners at Advokatfirman Lindahl KB act as court-appointed receivers and administrators in bankruptcies and company reconstructions and further advise on financial work-outs and refinancings of distressed debt. Magnus Löfving leads the Gothenburg office and Håkan Rudström, who has ‘solid experience as an insolvency practitioner’, heads the Uppsala office. The unit’s Örebro offering is led by Erik Lingsell and Robert Asplund, who ‘is a really good lawyer with superb knowledge of insolvency matters’.


‘Robert Asplund in the firm’s office in Örebro, sticks out as the most prominent – he is a skilled and experienced trustee.’

‘Partners give personal attention.’

‘Håkan Rudström has solid experience as insolvency practitioner and is flexible and market oriented.’

‘Lindahl have a good standing in cities such as Uppsala and Örebro.’

‘Partner Robert Asplund at the Örebro office is a really good lawyer with superb knowledge in insolvency matters.’

Wesslau Söderqvist Advokatbyrå

With offices in various cities across Sweden, including Gothenburg, Malmö and Umeå, Wesslau Söderqvist Advokatbyrå offers comprehensive national coverage. The group covers all aspects of insolvency law, including liquidations, company valuations, corporate reconstructions and reorganisations as well as bankruptcies, and practitioners are frequently appointed as receivers in liquidations and trustees in bankruptcies. Lars Söderqvist heads up the Stockholm group, Martin Bergander leads in Borås and Gothenburg, Krister Havert is the leader in Jönköping, and Peter Thörnwall is the primary contact in Helsingborg and Malmö.

Key clients

Starbreeze AB

FHS Holding Sweden AB


Ball Group Sverige Retail AB

PK Road AB

Landmann Scandinavia AB

Sparkistan StClemence AB

Raire Investment AB

Work highlights

  • Appointed the trustee of Landmann Skandinavia AB, a large retailer of Landmann grills and a wholly owned subsidiary of the former owner of the Landmann brand.
  • Advised on the corporate reorganisation of Starbreeze AB.