Insolvency in Sweden
Advokatfirman Schjødt’s market-leading insolvency practice is routinely instructed as court appointed administrator for large-scale company reorganisations, with Michael Levin and Lars Eric Gustafsson also providing advice on the associated tax and debt restructuring issues. Recent clients stem from the real estate, retail, entertainment and manufacturing sectors. Notable names including Hans Renman and group head Emma Berglund Uväng are regularly mandated to act as receivers in bankruptcy procedures; Renman is also a go-to name for insolvency litigation.
Emma Berglund Uväng
Trepur Entertainment AB
HPF Gustavsbergs Porslinsfabrik AB
Axxonen Holding AB
Real Holding i Sweden AB
Visual A.C.T Scandinavia AB
Finsmakarens Trädgård AB
MI Andersson Fastighetsbolag AB
Jascha Stockholm AB
- Acting as appointed receiver on Naftokil Aktiebolag’s bankruptcy, which includes complex tax issues.
- Handling the reorganisation of Real Holding i Sweden with a debt structure of external loans, shareholder loans and bonds.
- Acting as appointed receiver on clothing retailer Boomerang’s bankruptcy.
Erik Selander leads DLA Piper’s Nordic-wide insolvency expertise and handles complex cross-border financial restructurings and insolvency proceedings for an international corporate client base. On the domestic front, Selander, practice head Kent Hägglund, Jonas Premfors and Lars Wiking are routinely court mandated as administrators on high-value bankruptcies and reorganisations; the group recently acted as co-administrator on the winding-up of Saab. The team also assists client in the real estate, consumer fashion, retail, life insurance and investment services sectors.
‘The insolvency team at DLA Piper has a very good all-round awareness of key factors when dealing with Insolvency cases, such as financials, accounting matters and tax matters. To me it seems like they are better than their competitors in this regard.‘
‘The team has a lot of experience and knowledge having dealt with any kind of insolvency situations possible under Swedish law. They are especially good at dealing with larger, more complex insolvency and restructuring.‘
‘The team is knowledgeable, experienced and professional.‘
‘Lars Wiking is a highly qualified insolvency partner. Very experienced and good to work with, very pragmatic and client friendly.‘
‘Erik Selander is appreciated for his thorough knowledge of the financial system and the workings of banks.‘
‘Kent Hägglund and Jonas Premfors are both reliable experts in their field.‘
Apsis Liv Försäkrings
SAAB Automobile Tools
SAAB Automobile Powertrain
QV group of companies
Aligera Holding including Aligera Wind Group
- Acting as administrator on Teri Property’s bankruptcy of its 31 retail properties.
- Appointed as co-receiver of the bankruptcy of SAAB.
- Acting as administrator of fashion retailer JC’s bankruptcy.
Advokatfirman Vinge’s highly regarded insolvency team handles significant bankruptcies and insolvency matters; Morgan Hallén and Anna Palmérus are frequently instructed as court-appointed receivers on some of the largest bankruptcies and compulsory liquidations in the automotive, shipping, financial services, real estate and healthcare sectors. Robert Wikholm and Fabian Ekeblad are go-to names for solvent liquidation work and other financial restructuring mandates and often advise leading banks, creditors and distressed companies.
Fabian Ekeblad; Anna Palmérus
‘We always receive creative and commercially adequate advice.‘
‘Highly professional in all respects.‘
‘Morgan Hallén is a competent leader of a team of highly skilled and intelligent lawyers who have wide and deep knowledge.‘
‘Thomas Sjöberg advises his clients – often banks – in an excellent way. He is very skilled and also business minded and pragmatic. In addition he is a very nice and likeable person.‘
‘Formal in a respectful way, efficient and smart.‘
B.V. Holding Maatschappij Damen
Svets & Mekano i Vislanda AB
Advanza Vård och Omsorg AB
Intertrust (Sweden) AB
Kromann Reumert (Top Toy A/S) Y
Aspis Livförsäkrings AB
Derome Byggvaror & Träteknik AB
CRC Tjurhöjden 6 MW AB
Codan Forsikring A/S
- Representing B.V. Holding Maatschappij Damen as shareholder in the liquidation of Damen Shiprepair Götaverken.
- Appointed as official receiver for the bankruptcy of manufacturing company Svets & Mekano i Vislanda.
- Appointed as official receiver for the bankruptcy of Advanza Vård och Omsorg.
The team at Wistrand is regularly appointed as trustee for high-profile bankruptcies, and group head Christian Bergqvist, Niklas Körling and newly promoted partner Fredrik Thor are regularly singled out by clients. The practice handles complex debt restructuring mandates for banks and corporates across the insurance, IT and real estate sectors; the firm's Gothenburg office is also a key name for manufacturing clients. The department also advises banks as creditors in large bankruptcies, and Anders Nilsson has notable expertise in insolvency litigation at a domestic and global level. Counsel Nina Baecklund was a new arrival in 2020.
‘The team has high-level practical understanding of complex in-court insolvency proceedings which adds value to their advice.‘
‘Very good — maybe the best — at insolvency litigation.‘
‘One of the most skilled insolvency teams in the country.‘
‘A competent, young and active team.‘
‘Christian Bergqvist always delivers straightforward and valuable advice in challenging situations.‘
‘Anders Nilsson is an excellent insolvency lawyer and one of the brightest in the market.‘
‘Niklas Körling is well recognised for his work. He has tonnes of experience within insolvency law and has a practical and commercial approach.‘
‘Fredrik Thor is a highly skilled and pragmatic, business-minded professional, quick to identify and analyse complex legal issues, possessing both intuitive social skills and a high degree of integrity. It has been a pleasure working with him and the execution of projects has been hands-down excellent.‘
AQ Segerström & Svensson AB
Scana Steel Björneborg AB
Sulitelma Fastigheter AB
Powerwave Technologies Sweden AB
Suderhälsan HVB AB
The Cords & Co AB
OneOak Networks AB
Gibson Innovations Sweden AB
New Construction Group
- Appointed as trustee in the Scana Steel Björneborg bankruptcy.
- Appointed as trustee in the AQ Segerström & Svensson bankruptcy.
- Appointed as trustee in the Gibson Innovations Sweden bankruptcy.
Noteworthy mandates for Advokatfirman Cederquist KB’s insolvency practice include complex multi-creditor restructuring exercises for leading Nordic banks and syndicates. The robust corporate recovery practice includes practice head Johan Lundberg and noteworthy individuals Svante Hultqvist and Per Henriksson, who handle high-value debt restructuring programmes for distressed companies.
‘The practice has a truly unique experience of handling complex multi jurisdictional and multi-creditor insolvency and reconstruction arrangements. Cederquist is always our first choice when we shop for services within the insolvency and reconstruction field.‘
‘A very skilled and experienced team that can combine theoretical abilities with a practical approach to problems.‘
‘Star individuals include Svante Hultqvist, Per Henriksson and Johan Lundberg. They are all very knowledgeable and highly skilled lawyers, pragmatic and solutions oriented. They grasp what is essential and their advice is always to the point and provided in a cost efficient manner.‘
‘Johan Lundberg is very available and solutions oriented.‘
‘Svante Hultqvist is simply the best to have onboard for restructuring matters.‘
‘Per Henriksson is a very solid lawyer with high theoretical skills and a good banking background.‘
European Investment Bank
Cirio Advokatbyrå AB’s insolvency practice includes team co-heads Lars-Henrik Andersson and Pierre Pettersson and is often court appointed to handle reorganisations and wind-ups, with notable experience in the telecoms, media, fashion, construction and energy sectors. As part of the firm's wider banking and finance practice, the team also has experience acting for mid-scale creditors in repossession claims arising from defaults.
Lars-Henrik Andersson; Pierre Pettersson
‘Pierre Pettersson and Karl Björlin have supported us in various projects regarding insolvency issues. Our impression is that they have expert legal knowledge and that they have a great understanding of our business and commercial issues. We find them pragmatic and very dedicated to finding commercially feasible solutions to issues.‘
‘A strong and diverse insolvency team with experience of large-scale insolvency projects, often covering multiple jurisdictions.‘
‘Lars-Henrik Andersson has deep and wide knowledge and always gives efficient business advice.‘
‘Daniel Lander demonstrates modern leadership and great integrity.‘
‘Lars-Henrik Andersson is a leading individual within the Swedish insolvency sector.‘
‘Karl Björlin is a rising star on the insolvency circuit. Extremely knowledgeable and on point.‘
BST BrandSkyddsTeamet Group
Randstad Sweden Group AB
Villa Total AB
Componenta Wirsbo AB and Componenta Arvika AB
Fortum Ljunga Kraft AB
- Appointed as insolvency administrator for VLT and Liberala Tidningar’s winding-up of approximately €10m of financial assets, and handled several complex disputes involving tax and corporate law.
- Appointed as administrator for fashion company Novarlux (and its Italian subsidiary) during its voluntary liquidation and divestment of assets.
- Handling the restructuring of distressed construction group Villa Total, including a court-led formal business reorganisation.
With a substantial team focusing on insolvency matters, Advokatfirman Fylgia KB is one of the largest offerings on the market, making it a go-to firm for court-appointed bankruptcies and administrations. Practice head Jakob Callmander and Lars Nylund recently handled bankruptcies and insolvencies for listed and smaller companies in the fintech, corporate consultancy, agriculture, luxury retail and construction sectors. Callmander and Johan Norén also advise financial services clients on credit facility restructurings and other bond-related issues.
Scandinavian Credit Fund I AB
Roslagens Sparbank AB
- Appointed as receiver on AI and IT-infrastructure company Bolooba Data Center’s bankruptcy.
- Appointed as receiver on luxury retail chain Urbanus’ bankruptcy.
- Appointed as receiver on urban agriculture corporation Plantagon International’s bankruptcy.
Recent mandates for Gernandt & Danielsson Advokatbyrå's insolvency team include complex bond and debt restructurings, refinancing negotiations and recapitalisations for distressed companies. Key contacts include practice head Candra Torebring, Björn Svensson and Mikael Borg, who regularly act on the debtor side of matters, with clients sourced from the financial services, airline, telecoms, property and education sectors. The team also handles refinancing mandates in the private equity space.
‘A very experienced team for cross-border transactions with a deep bench of talented young lawyers and seasoned leadership.‘
‘Mikael Borg is a seasoned, calm counsellor, with excellent business ethics and the confidence to tell his client when to stop the clock and face the music, rather than keep drafting in circles.‘
‘Caroline Jägenstedt Wikman is very knowledgeable and has incredible dedication and stamina.‘
‘Mikael Borg and Caroline Jägenstedt Wikman are excellent in managing restructuring processes in and out of insolvency.‘
Nordic Trustee & Agency AB
Oscar Properties Holding AB
- Advised Nordic Trustee & Agency (on behalf of the bondholders of Icelandic airline WOW Air) on restructuring negotiations aimed at mitigating the risk of bankruptcy.
- Advised Eniro on the restructuring of bank loans totalling SEK1bn.
- Advised YA Holding on the restructuring of debt securities.
Lenders, equity investors and other creditors instruct the insolvency team at Mannheimer Swartling on cross-border financial restructurings and litigation pertaining to claw backs and other judicial proceedings. On the debtor side, the group handles the sales and acquisitions of distressed assets, and also assists clients with preventative measures. The team is jointly led by Thomas Pettersson and Christoffer Monell and comprises a cross-section of professionals from the banking and finance, corporate, M&A and dispute resolution practices.
Thomas Pettersson; Christoffer Monell
Adam Opel GmbH
AB Storstockholms lokaltrafik
- Representing Opel Automotive as creditor in initiating proof-of-claim proceedings in the bankruptcy of Saab Automobile.
- Representing AB Storstockholms lokaltrafik as creditor in the formal reorganisation of the free Swedish newspaper Metro.
- Representing a creditor and customer in the bankruptcy of a Swedish automotive component supplier.
The insolvency practice at Roschier advises distressed companies on debt restructuring mandates including complex debt-to-equity swaps, corporate contingency restructurings, recapitalisations and covenant renegotiations with creditors. Leveraging the firm’s strength in high-yield bond work, group co-heads Johan Häger and Fredrik Rydin solid experience in high-value bond restructurings. The client roster comprises leading international names in the automotive, fashion, air travel and investment banking industries. Ola Åhman left the firm.
Johan Häger; Fredrik Rydin
Intertrust (Sweden) AB
JOOL Markets AS
- Acted for Intertrust Sweden as ad hoc bondholder committee and bond trustee for the restructuring of CHR Bygga Bostäder.
- Advised Iceland Air on the renegotiation of high-yield bond covenants.
- Assisted a listed company with negotiations with its creditors to reset covenants and agree on a deleveraging and recapitalisation process.
Setterwalls fields a team of insolvency lawyers, which is regularly instructed as bankruptcy administrator for real estate and construction clients in matters, which often have cross-border elements. Team leader Mathias Winge has substantial experience handling restructuring issues for creditors and advising on M&A transactions for financially distressed companies. The team also acts in insolvency-related litigation under the Swedish Bankruptcy Act relating to recovery actions and payment liability issues. Nina Baecklund left the firm in 2020.
‘Mathias Winge is a pragmatic and experienced lawyer who is easygoing and fun to work with.‘
‘Mathias Winge has good reputation and always tries to find the best solutions.‘
Sweden AB and 31 of its subsidiaries in bankruptcy
Nynäshamn Holding AB in bankruptcy
Avestakronan AB in bankruptcy
Medge Group Companies in bankruptcy
Nordic Blooc AB in bankruptcy
Scientific Content for Interactive Systems Sweden AB (SCISS) in bankruptcy
Swedish Composites AB in bankruptcy
- Appointed as bankruptcy receiver for Quinn Investments Sweden and 31 of its subsidiaries.
- Appointed as bankruptcy receiver for EV Ejendomsinvestering Nynäshamn Holding.
- Appointed as bankruptcy receiver for Avestakronan.
White & Case Advokat AB’s insolvency practice handles financial restructurings for a client roster of Nordic banks and other creditors; joint practice heads Magnus Wennerhorn and Carl Hugo Parment lead on domestic mandates and act as local counsel on global restructuring exercises. Private equity funds also instruct the team to advise on distressed portfolio companies. The group also works closely with the banking and finance department to develop liquidation and restructuring strategies.
Magnus Wennerhorn; Carl Hugo Parment
‘Always provides an excellent legal service. They make sure to understand the case and our business and are always available for questions.‘
Advokatfirman Lindahl KB acts as court-appointed receiver and administrator in bankruptcy and solvent liquidation, with key contacts including Robert Asplund and Erik Lingsell (both based in Örebro) and Magnus Löfving, who is based in Gothenburg. Noteworthy highlights include acting for a number of bankruptcy estates in asset recovery litigation.
Magnus Löfving; Robert Asplund; Erik Lingsell
Saab Automobile Tools AB
Fly Me Sweden
Blue Flash Auto AB
- Acting as administrator in the bankruptcy of FME Europe and Fly Me Sweden
- Acting as receiver in the SEK100m bankruptcy of Blue Flash Auto.
Baker McKenzie’s Stockholm office acts as local counsel in significant global bankruptcy and restructuring proceedings, which it receives from the firm’s international network. Recent work involved clients from the automotive, reinsurance, nuclear energy and gaming sectors. Stefan Bessman and Jonas Benedictsson are the key contacts.
Stefan Bessman; Jonas Benedictsson
Swiss Re Europe
Bank St Petersburg
- Representing reinsurer Swiss RE Europe in the liquidation proceedings of Aspis Life.
- Representing Bank Saint Petersberg in obtaining court orders in the Swedish Bankruptcy Court ordering the return of property to a debtor’s estate.
- Providing restructuring advice to Westinghouse Electric UK Holdings and its subsidiaries following its bankruptcy.