Insolvency in Sweden

Advokatfirman Schjødt

Advokatfirman Schjødt’s restructuring and insolvency practice fields a substantial bench of bankruptcy experts including practice head Emma Berglund UvängLars Eric Gustafsson and Michael Levin. The team acts as court appointed administrator on some of the largest company reorganisations in the automotive and manufacturing sectors. In recent years, the team has expanded its financial restructuring work through close alignment with the firm's banking and finance practice. Hans Renman is a go-to name for insolvency litigation.

Practice head(s):

Emma Berglund Uväng

Other key lawyers:

Lars Eric Gustaffson; Michael Levin; Hans Renman


‘A very strong tradition of producing leading practitioners within insolvency.’

‘Hans Renman is the leading individual within the Swedish insolvency.’

‘The level of competence is very high and they cover all parts in terms of insolvency. The lawyers are also very accessible and easy to get in touch with.’

‘Top-tier insolvency law firm with a number of notable insolvency practitioners and advisers to creditors.’

‘Hans Renman; one of the stars in the market when it comes to knowledge/legal analysis. Lars Eric Gustafsson; one of the senior and most respected names in the restructuring market. Michael Levin; Very pragmatic and result oriented.’

‘Hans Renman has really deep knowledge in bankruptcy recovery. His skills are exclusive on the market.’

‘I have worked with partner Emma Berglund Uväng. She is an upcoming insolvency practitioner, very easy going and pragmatic.’

‘ I would say that they have one of the best insolvency practices in Stockholm.’

Key clients

Well Fastigheter Holding AB and Well BRF 2.0 Holding AB

Eniro AB

Real Holding i Sweden 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 group companies

Metro Media House AB and Tidnings AB Metro

Amaui AB

Stockholm Hand & Fotkirurgikliniken AB

Transtema Infrastructure AB

Axxonen Holding AB

Reschia Form AB

Work highlights

  • Acted as administrator on Nynas’ high-profile company reorganisation.
  • Assisted Eniro AB with a successful company reorganisation. The company reorganisation has implied a write-down of unsecured debt by 75% by way of judicial composition.
  • Appointed as receiver on payment solutions company Goyada Aktiebolag’s bankruptcy.

Cirio Advokatbyrå AB

Cirio Advokatbyrå AB has a full-service insolvency and restructuring practice, which is closely integrated with the banking and finance team. Practice heads Lars-Henrik Andersson and Pierre Pettersson, with Karl Björlin, are regularly appointed by the courts in high-profile bankruptcies, recently in the clothing, cycling, fintech and travel sectors. The team also advises on distressed debt restructurings, refinancing negotiations, workouts and insolvency-related litigation, with advice given to corporate clients as well as creditors. The firm recently recruited senior consultant Odd Swartling, who has extensive insolvency expertise and knowledge of the life sciences sector.

Practice head(s):

Lars-Henrik Andersson; Pierre Pettersson

Other key lawyers:

Karl Björlin; Odd Swartling


‘Cirio has a strong insolvency law department and regularly receives major bankruptcies. The co-owners have great knowledge and are focused on working for the creditors’ best interests.’

‘Lars Henrik Andersson is a very good acquirer of large bankruptcies. Pierre Pettersson is probably one of the most skilled insolvency law lawyers in Sweden. They form a good team together.’

‘They are among the very top firms in Sweden in this area, great team with vast experience, strengthened by the corporate and banking and finance practice areas of the firm.’

‘Lars-Henrik Andersson, top-lawyer with a business-minded approach, not like any other insolvency lawyer. Pierre Pettersson, hard-working and to the point, very likeable, with great experience in corporate reorganisation work.’

‘The level of competence at the firm is very high and they cover all parts in terms of insolvency. The lawyers are also very accessible and easy to get in touch with.’

‘They are creative and constantly try to find solutions that benefit us. We have very high confidence in the team.’

‘Lars-Henrik Andersson is a very experienced and pragmatic bankruptcy receiver. Understands the bigger picture.’

‘Experienced and competent lawyers who are easy to talk to and are willing to compromise to achieve the best possible result.’

Key clients

BIG Travel Sweden

Vasakronan AB


Swedish Government (Regeringskansliet)

BST BrandSkyddsTeamet Group

Work highlights

  • Appointed administrator in the successful restructuring of BIG Travel Sweden, one of Sweden’s largest travel agencies, with nationwide and pan-Scandinavian operations and a SEK1.5bn yearly turnover.
  • Appointed as insolvency administrator and subsequently as official receiver of part of the Stampen Media Group – VLT and Liberala Tidningar – winding up financial assets of €10m and handling several cases of highly complex litigation involving tax and corporate law.
  • Appointed as trustee/official receiver in bankruptcy proceedings of a personal assistance business, Jessy’s Assistants Group.

DLA Piper

DLA Piper handles domestic and cross-border insolvency and restructuring projects for big-ticket real estate, retail, manufacturing and infrastructure clients. Practice head Jonas Premfors and Kent Hägglund primarily act as court appointed administrators and liquidators on bankruptcy procedures; Premofrs is currently advising on investigations and clawback issues for investments services clients. Erik Selander has expertise in handling financial restructurings for providers and borrowers across the Nordic region, and Lars Wiking recently advised on the winding up of real estate portfolios for international financial institutions.

Practice head(s):

Jonas Premfors

Other key lawyers:

Kent Hägglund; Erik Selander; Lars Wiking


‘A very heavy player in the Nordic market.’

‘Very high level of competence, great international reach through the DLA network.’

‘A collective of hands-on lawyers with very good legal knowledge and high availability.’

‘Top-tier insolvency practice.’

‘Lars Wiking – wealth of experience and very client friendly.’

‘Great knowledge on the subject. Good support from other parts of the practice when needed.’

‘Jonas Premfors is experienced, knowledgeable, easy to communicate with and in control throughout the process.’

‘Very experienced team with exceptional sector knowledge.’

Key clients

ADGC Properties

Aitrops Event

Aligera Holding including Aligera Wind Group


Aspis Liv Försäkrings

Componenta Främmestad

Crystal Retail (Swarovski)

Dals Konfektyr

Indiska Magasinet

QV group of companies

RE Education


SAAB Automobile group of companies


Teri Property

Trinitas group of companies


Venue Retail Group

Work highlights

  • Advising ADGC Properties on the winding up of a real estate portfolio controlled by Kaupthing, the failed Icelandic financial institution, including 13 properties in Sweden.
  • Acting as bankruptcy administrator for Airtops Event.
  • Represented Aspis Liv Försäkrings, the Sweden-based life insurance company and part of the Aspis Insurance Group based in Greece, as court appointed administrator.

Advokatfirman Vinge

The trio of Albert Wållgren, Anna Palmérus and Henrik Ossborn head up Advokatfirman Vinge’s insolvency practice. The team is predominantly focused on large-scale restructurings; recent instructions were received from premier names in the oil and gas, automotive, furniture, retain and mining industries. Robert Wikholm advises on bankruptcies in the travel industry; Morgan Hallén handles multibillion-SEK company reorganisations in the telecoms sector; and Fabian Ekeblad assists with substantial restructurings in the financial services sector. The group also acts on compulsory liquidations.

Practice head(s):

Albert Wållgren; Anna Palmérus; Henrik Ossborn

Other key lawyers:

Robert Wikholm; Morgan Hallén; Fabian Ekeblad


‘Morgan Hallén is a very business-oriented lawyer who is not afraid to find creative means to handle tough issues.’

‘The overall competence of the team is impressive. I always get quick feedback on my problem.’

‘There is substantial experience, self confidence and great commitment to help me as a client. I really appreciate that they say it exactly as it is and do not wrap things up.’

Key clients

SEB Denmark

FJ Dynamics Technology Co

Work highlights

  • Advised FJ Dynamics Technology on the acquisition of Sveaverken Svea Agri AB.
  • Advised an Ireland-based insurance company regarding claims against travel and tourism operator Ving Sverige AB, which is in bankruptcy.


Wistrand’s insolvency practice acts for debtors and creditors on out-of-court restructuring procedures. Practice co-head Christian Bergqvist handled the restructuring of the Swedish entities of Thomas Cook during the company’s high-profile bankruptcy, while further recent restructuring mandates were sourced from the automotive and industrial sectors, leveraging co-head Jörgen Wistrand’s Gothenburg presence. Anders Nilsson is a leading market name for recovery litigation. The firm fields a large bench of bankruptcy administrators including specialist counsel Nina BaecklundAnne-Marie Pouteaux, Niklas Alvestrand Körling, Fredrik Thor and Nina Baecklund, with recent appointments in the real estate, construction, media, retail and entertainment sectors.

Practice head(s):

Christian Bergqvist; Jörgen Wistrand

Other key lawyers:

Anders Nilsson; Nina Baecklund, Anne-Marie Pouteaux; Niklas Alvestrand Körling; Fredrik Thor; Nina Baecklund


‘In-depth knowledge of insolvency and thereto related questions. Always provide high quality advice. On top of that their advice is always relevant and they show that they understand the business.’

‘Anders Nilsson – a true specialist in all insolvency related matters. Anders is business oriented, gives clear and pragmatic advice which also shows that he really understand the clients needs and business. I can truly recommend him!’

‘I have worked with partner Anders Nilsson for almost fifteen years. I consider him to be one of the best insolvency lawyers in the Swedish market.’

‘Wistrand is one of few leading firms in Sweden offering equal capability in traditional insolvency work.’

‘I have collaborated on several insolvency matters with Partner Fredrik Thor, whom I think is a highly skilled and pragmatic insolvency lawyer with a solid commercial approach to insolvency issues. I think that his down-to-earth and executive abilities are excellent and to a large extent contributes to the success of his work efforts. I would highly recommend Fredrik as advisor for insolvency-related matters in Sweden, both for Swedish and International clients.’

‘Experienced and skilful team with a lengthy track record in handling corporate reorganisations and insolvency procedures.’

‘I have worked together with Christian Bergqvist and Anders Nilsson in a very complex, sensitive and innovative transaction. Both Christian and Anders are knowledgeable, pragmatic, client-oriented, collaborative and very easy and nice to work with. I appreciate their calm and grounded approach and ability to explain complicated matters in a simple way.’

Key clients

Thomas Cook Northern Europe AB

AQ Segerström & Svensson AB in bankruptcy

Scana Steel Björneborg AB in bankruptcy

Saab Automobile bankruptcies

Swedish association for franchise entrepreneurs and its members

Digital Inn AB in bankruptcy

Sulitelma Fastigheter AB in bankruptcy

Powerwave Technologies Sweden AB in bankruptcy

OneOak Networks AB in bankruptcy

Roland Gustavsson Grävmaskiner AB

Sizes Entreprenad AB and Sizes Prefab AB

A Fashions Sweden AB in bankruptcy

Work highlights

  • Acted as lead counsel to the Swedish entities of Thomas Cook group following the bankruptcy of Thomas Cook whereby the Nordic businesses under the brand names Ving, Spies and Tjaereborg were restructured and successfully sold to new owners.
  • Appointed as trustee of Digital Inn Holding AB and Digital Inn AB, the Apple premium reseller chain with eight stores. The business was successfully sold to new owners.
  • Appointed to advise Scana Steel Björneborg AB, which is in bankruptcy.

Advokatfirman Cederquist KB

A stream of out-of-court restructuring exercises are handled by the insolvency experts at Advokatfirman Cederquist KB, which includes practice head Johan Lundberg and key practitioners Svante Hultqvist and Per Henriksson. The client roster includes impressive domestic and international creditors; distressed companies and subsidiaries also engage the team on debt restructuring exercises including complex debt-to-equity swap structures.

Practice head(s):

Johan Lundberg

Other key lawyers:

Svante Hultqvist; Per Henriksson


‘Dedicated, down-to-earth, problem-solving minded, good value for money.’

‘I’d particularly like to mention Per Henriksson, who had a very service-minded approach, working hard to find efficient solutions in a tough case.’

Key clients

European Investment Bank







Future Gaming Group International AB

Polaris Private Equity

Work highlights

  • Acted for European International Bank in its capacity as a creditor in the bankruptcy of Flexenclosure.
  • Acted for Nordea Bank on a major restructuring, where a substantial part of the subsidiaries of the group had, over time, been sold, liquidated or put in bankruptcy.
  • Handled a restructuring of the balance sheet of Future Gaming Group International, including a debt-to-equity swap, converting part of the bond to equity.

Advokatfirman Fylgia KB

Advokatfirman Fylgia KB has a large bench of insolvency experts headed up by Jakob Callmander, who routinely handles bankruptcy administrations, defaults and bond accelerations for creditors, and the associated litigation. Lars Nylund and Johan Norén are also go-to partners for bankruptcies as official receivers, while Mathias Winge (who recently joined from Setterwalls) handles corporate restructuring exercises, regularly advising creditors and landlords on debt restructuring negotiations and procedures.

Practice head(s):

Jakob Callmander

Other key lawyers:

Lars Nylund; Johan Norén; Mathias Winge


‘Very pleasant and collegial to work with. Solution oriented and replies very quickly.’

‘Partner Mathias Winge is always fun to work with, he also has experience from various large real estate-insolvency cases at his previous firm so he will surely add some valuable knowledge to Fylgia in this area. Senior lawyer Lars Nylund is a very experienced administrator for more local and domestic insolvency cases.’

Key clients

Scandinavian Credit Fund I AB

Roslagens Sparbank AB

Tessin Nordic AB

Intertrust (Sweden) AB

Quinn Investments Sweden AB and 31 of its subsidiaries in bankruptcy

Nordic Blooc in bankruptcy

Medge Group Companies

Work highlights

  • Appointed as receiver for the bankruptcies of Bounce Scandinavia Company, successfully selling all three business venues.
  • 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.

Gernandt & Danielsson Advokatbyrå

Closely integrated with the Gernandt & Danielsson Advokatbyrå’s banking and finance practice, the insolvency group is jointly led by Candra Torebring and Björn Svensson  and advises on high-stakes corporate restructuring exercises and reorganisations, including refinancing negotiations, clawback issues, security enforcements and distressed sales. The recently established debt capital markets restructuring sub-division, which is led by Mikael Borg and Caroline Jägenstedt Wikman, handles complex bond refinancing mandates for bondholders in the clothing, transport and food and drink sectors.

Practice head(s):

Candra Torebring; Björn Svensson

Other key lawyers:

Mikael Borg; Caroline Jägenstedt Wikman

Key clients

Eniro AB

Nordic Trustee & Agency AB

Svea Ekonomi AB


Work highlights

  • Advising Nordic Trustee & Agency AB, and indirectly the bondholders, in connection with the financial difficulties of Icelandic airline Wow air.
  • Advised Nordic Trustee & Agency AB on the in-court restructuring of PWT Holding and its main operating subsidiary PWT Group.
  • Advising listed company Eniro in connection with the implementation of a plan for a new recapitalisation of Eniro by way of a debt-for-equity swap.

Hannes Snellman

Led by Fredrik Olsson and featuring specialist partner Carolina Wahlby, Hannes Snellman's practice works in close alignment with the firm’s Helsinki office to handle cross-border restructurings for banks, shareholders and other creditor stakeholders. David Ackebo leads on contentious insolvency instructions. The team recently saw considerable growth, with distressed debt expert Ola Åhman joining from Roschier, and counsel Maria Orrgard joining from an in-house position at SEB, further enhancing the group's creditor-side insolvency experience.

Practice head(s):

Fredrik Olsson

Other key lawyers:

Carolina Wahlby; David Ackebo; Ola Åhman; Maria Orrgard


‘Excellent service and focus on the client’s business.’

‘The team is very well organised in order to give clients the best possible benefit.’

Mannheimer Swartling

Mannheimer Swartling’s insolvency team advises on high-stakes out-of-court restructurings for an elite roster of lenders, equity investors and other creditors. The cross-practice team is co-headed by Daniel Karlsson and Christoffer Monell, who regularly receive high-profile mandates with a multijurisdictional element. Ongoing instructions include reorganisations in the travel, automotive, IT and telecoms sectors. Additionally, the firm is representing corporate clients in disputed clawback proceedings before the Swedish courts.

Practice head(s):

Daniel Karlsson; Christoffer Monell

Key clients

DNB Bank

Acer Inc.

Opel Automobile GmbH

AB Storstockholms Lokaltrafik

Nordic Trustee AB

Work highlights

  • Advised DNB Bank on a transaction whereby a consortium acquired the Scandinavian part of the Thomas Cook group.
  • Representing Nordic Trustee as agent for holders of bonds and holders of convertible bonds issued by the Swedish listed company Eniro AB, in connection with Eniro’s formal reorganisation and the associated judicial composition proceedings.
  • Represented major creditor Opel Automobile in proof-of-claim proceedings in the bankruptcy of SAAB Automobile.


Johan Häger and Fredrik Rydin jointly lead Roschier’s insolvency team and handle the full spectrum of restructuring projects for international creditors including syndicated lending groups, bondholder committees and Nordic banks. Bond restructuring work is a particular area of strength for the group, leveraging the firm’s presence in the high-yield bond market; it also advises on complex bridge loans and hybrid debt structures. Mid and top-end distressed companies also engage the team on debt restructurings; recent engagements came from clients in the manufacturing and construction sectors.

Practice head(s):

Johan Häger; Fredrik Rydin

Key clients


JOOL Markets AS

Houlihan Lokey


Wow Air

Iceland Air

Nordic Trustee & Agency AB

Work highlights

  • Advising a syndicate of banks on complex sanctions-related issues concerning a company that has applied for protection under a formal Swedish company reorganisation procedure.
  • Acting for an ad-hoc bondholder committee that represents more than 65% of the bonds issued by Caboline on a super senior revolving credit facility that shares security with the bonds under an intercreditor agreement.
  • Acting for security agent Nordic Trustee & Agency AB, which acts both for the super senior facility lender and the bondholders of RNB Retain and Brands, which defaulted on SEK600m bonds when its three wholly-owned subsidiaries entered into formal company reorganisation proceedings in Sweden.


Åke Fors at Setterwalls recently shifted the firm’s insolvency practice to focus on company debt and loan restructurings, owing to the departure of former practice head Mathias Winge. Fors, Mikael Magnusson and Carl Lindencrona retain a strong client roster of syndicated lenders, financial institutions, travel guarantee creditors and other debt providers from the domestic and Nordic markets. The team also handles corporate reorganisations arising from international sanctions.

Practice head(s):

Åke Fors

Other key lawyers:

Mikael Magnusson; Carl Lindencrona


‘Deep knowledge about how a bank works and which items are key for a bank when working with distressed debt.’

‘Mikael Magnusson – is a highly skilled and experienced lawyer and is one of our first hand choices when it comes to financial restructurings. He keeps track of both the details and the overall picture. He is a delight to work with and stays hands-on throughout any transaction.’

Work highlights

  • Assisted Atradius, travel guarantee creditor, with the insolvency and bankruptcy of Thomas Cook’s Scandinavian business – Vingresor – resolving the guarantee financing and loss sharing for the Swedish entity.

White & Case Advokat AB

White & Case Advokat AB’s insolvency practice is retained by a client portfolio of Nordic banks and global private equity investors to handle all aspects of financial restructurings and workouts. Practice heads Magnus Wennerhorn and Carl Hugo Parment are currently advising on restructurings in the media, oil and gas and renewable energy industries, while Oscar Liljeson provides restructuring advice to distressed private equity portfolio companies, particularly in the retail sector.

Practice head(s):

Magnus Wennerhorn; Carl Hugo Parment

Other key lawyers:

Oscar Liljeson


‘Magnus Wennerhorn is well versed and always available. Solution rather than problem oriented approach makes for easy cooperation.’

Work highlights

  • Advising J. Aron & Company LLC, an affiliate of Goldman Sachs, on its entry into an oil inventory monetisation arrangement with Nynas AB.

Baker McKenzie

Baker McKenzie’s restructuring and insolvency practice is frequently engaged on high-value, global instructions through its international network. Practice heads Stefan Bessman and Jonas Benedictsson are currently handling multijurisdictional bankruptcies and corporate restructurings for financial services, energy, machinery and alcohol companies.

Practice head(s):

Stefan Bessman; Jonas Benedictsson

Key clients

Swedish Government

Bank St Petersburg


NLS Machinery, Inc

Work highlights

  • Advising Bank St Petersburg, the Russian bank, on a complex bankruptcy matter, primarily revolving around domicile and jurisdictional issues.
  • Representing 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.
  • Acting for the Swedish Government 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

Advokatfirman Lindahl KB’s insolvency and restructuring team is spread over multiple offices, with co-head Magnus Löfving in Gothenburg; Håkan Rudström in Uppsala; and co-heads Robert Asplund and Erik Lingsell sitting in Örebo. The team is regularly appointed as administrator and reconstructor in bankruptcy proceedings in the publishing, travel, furniture and fashion sectors. Asplund is currently advising on reorganisations for distressed companies in the retail sector.

Practice head(s):

Magnus Löfving; Håkan Rudström; Robert Asplund; Erik Lingsell


‘I have worked with Robert Asplund and he is a great lawyer with integrity and in-depth insolvency knowledge.’

‘Håkan Rudström is a knowledgeable receiver in bankruptcies and administrator in reconstructions, with a good business sense.’

‘Robert Asplund in the Örebro office is a seasoned, very experienced and competent insolvency practitioner.’

Key clients

Blue Future Höje AB

Blue Future Gustavsvik AB

FME Europe AB and Fly Me Sweden AB

Sveagruppen Tidnings AB

Promas Sverige AB

Iorim Holding AB

WearColour Sweden AB

Work highlights

  • Acted as administrator in Blue Future Höje’s bankruptcy.
  • Acted as administrator in the bankruptcy of FME Europe AB and Fly Me Sweden AB (subsidiary to FME Europe AB).
  • Acted as receiver in the bankruptcy of Sveagruppen Tidnings AB.

Wesslau Söderqvist Advokatbyrå

The credit and insolvency practice at Wesslau Söderqvist Advokatbyrå fields a large team of bankruptcy specialists across multiple offices: Lars Söderqvist in Stockholm; Martin Bergander in Gothenburg; Krister Havert in Jönköping; and Peter Thörnwall in Malmö. The team is currently acting in bankruptcy proceedings in the construction, auto parts, textiles and taxi services sectors.

Practice head(s):

Lars Söderqvist; Martin Bergander; Krister Havert; Peter Thörnwall


‘The team has good business acumen and achieves good results in settling bankruptcies.’

‘Handles complex organisations in a good way. Settles quickly with good results.’

Work highlights

  • Provided advice to the bankruptcy estate of Borås Hydraulik & Handel AB.
  • Handling the ongoing bankruptcy and recovery of real estate for Nässjö Bygg AB.
  • Advising on the bankruptcy of G-Star Raw, which involves the company’s 12 stores in Sweden and approximately 80 employees.