Insolvency in Sweden

Cirio Advokatbyrå AB

Cirio Advokatbyrå AB fields ‘a strong team with good commercial understanding’ and advises clients on the full gamut of restructuring and insolvency issues. Key areas of focus include financial workouts and distressed debt refinancings, and the group regularly acts as receivers in bankruptcies; it also handles reorganisations and contentious matters including insolvency-related litigation. The team is jointly led by Lars-Henrik Andersson and Pierre Pettersson; Andersson is often appointed receiver and reorganisation officer in large proceedings and acts for banks, creditors and debtors, while Pettersson is a key name for bankruptcies and reorganisations and is experienced in cross-border cases. Karl Björlin handles restructurings and liquidations and senior counsel Odd Swarting is also recommended.

Practice head(s):

Lars-Henrik Andersson; Pierre Pettersson

Other key lawyers:

Karl Björlin; Odd Swarting


‘Their team is extremely well respected among various stakeholders in the industry and colleagues.’

‘They have deep enough expertise in the group. Collaboration is first class in every respect.’

‘The team at Cirio is led by Lars-Henrik Andersson. He is just the best in Sweden!’

‘Strong team with good commercial understanding.’

‘Lars-Henrik Andersson is much experienced and have a good commercial understanding.’

‘Good and nice lawyers to work with.’

‘Karl Björlin – very theoretically skilled. Responsive.’

‘I can really recommend Pierre Pettersson. He is experienced, talented and manages to achieve good results. He is Cirio’s top insolvency lawyer.’

Key clients

NäFo Fastighetsutveckling AB

RiVe Juridiska Byrå AB

MQ Holding AB, MQ Retail AB and Joyshop AB

BIG Travel Sweden AB

The Shirt Factory AB

Componenta Wirsbo AB and Componenta Arvika AB

Nordic Etail AB and Cykelkraft AB in bankruptcy

VLT AB and Liberala Tidningar i Mellansverige AB (part of the Stampen Media Group)

Solibro Research AB

Arktiska Hus AB and Arktiska Bygg & Entreprenad AB

Energihem Sverige AB

Chinsay AB

Otso Gold AB

Air Leap Aviation AB

ACT Produkter AB

Libro Stålteknik AB

Work highlights

  • Advised and was appointed administrator in the successful financial and operational restructuring of BIG Travel Sweden Group, one of Sweden’s largest business Travel Agencies, including advising affiliated companies on all related legal matters as well as legal and operational matters relating to the restructuring and the reconstruction plan which are still ongoing.

Advokatfirma DLA Piper Sweden KB

Advokatfirma DLA Piper Sweden KB fields ‘a strong team with broad experience, especially in large company reorganisations’. Its Nordic network spans Sweden, Norway, Finland and Denmark, making it well placed to handle domestic, regional and international matters. Jonas Premfors heads up the team and often acts as administrator in bankruptcy estate, while Erik Selander handles reorganisations and insolvencies and is a member of the World Bank Insolvency Task Force, and senior counsel Kent Hägglund is active in bankruptcy and insolvency cases across a broad range of sectors, including the real estate and retail industries.

Practice head(s):

Jonas Premfors

Other key lawyers:

Kent Hägglund; Erik Selander; Lars Wiking


‘Strong team with broad experience, especially in large company reorganisations.’

‘Several very experienced partners. Team leader Jonas Premfors is a solid lawyer.’

‘I have mainly worked with Jonas Premfors who has broad experience and knowledge of different insolvency matters, you can always count on him to come back with a practical solution to any insolvency issue you might have.’

‘Jonas Premfors and his team are outstanding.’

‘Dedicated, highly skilled.’

‘One of the best teams in the market. They have great advantage using their international colleagues within DLA Piper.’

‘Without a doubt, Jonas Premfors is their top name. He is highly respected and deserves all praise. Very easy to work with and is very effective.’

Key clients

ADGC Properties

Aligera Holding including Aligera Wind Group


Componenta Främmestad

Crystal Retail (Swarovski)

QV Group

RE Education


Stratevic Finance Group

Trinitas Fastigheter group of companies

Bergvik Skog


Rizzo Group (Venue Retail Group)

Image Group

Moment Group

Gernandt & Danielsson Advokatbyrå

The restructuring and insolvency team at Gernandt & Danielsson Advokatbyrå handles high-profile, high-value and often cross-border cases, drawing on strength from its corporate, regulatory and dispute resolution practices. The team is led by Sofie Victorsson, Mikael Borg, Caroline Jägenstedt Wikman and ‘outstanding lawyer in his fieldBjörn Svensson. Borg is a noteworthy name for debt capital markets and banking work, Wikman is praised for her work on real estate matters and disputes, and Viktorsson and Svensson handle banking and finance transactions, and restructurings and refinancings respectively. In team news, Mikael Bolling was promoted to partner and Candra Torebring left for Nybron Advokater KB.

Practice head(s):

Björn Svensson; Sofie Viktorsson; Mikael Borg; Caroline Jägenstedt Wikman

Other key lawyers:

Mikael Bolling


‘G&D knows everything there is to know about corporate bonds, so they are very capable of handling restructurings of bond issuers. They often come up with innovative solutions which are still very robust.’

‘It is a highly competent team, always ready to give solid reliable advice as well as innovative solutions.’

‘Deep competence and the ability to apply the competence to a real life difficult matter.’

‘Extremely highly qualified legal and business expertise as well as availability and client focus.’

‘Björn Svensson is an outstanding lawyer in his field, knowledgeable, innovative and with the client’s best interests in focus.’

Key clients


Municipality of Nyköping

Intertrust (Sweden) AB

Windevo AB


Swedish ATP Management AB

Nordic Trustee & Agency AB

YA Holding AB

Work highlights

  • Represented Nynas AB in the restructuring of its composition debt facilities, which were implemented in connection with the termination of Nynas’ formal reorganisation process.
  • Represented the municipality of Nyköping when issuing a guarantee in relation to the obligations of Stockholm Skavsta Flygplats AB (aka Stockholm South Airport) under an overdraft facility which was to be entered into with Skandinaviska Enskilda Banken AB in a refinancing/restructuring effort in the midst of the pandemic.
  • Representing Intertrust (Sweden) AB (acting as Agent on behalf of noteholders) and the noteholders’ committee under the hybrid capital securities in the ongoing Chapter 11 proceedings of SAS AB as well as acting in connection with SAS’ cost savings programme “SAS Forward”.

Mannheimer Swartling

Mannheimer Swartling draws on cross-practice expertise, utilising the firm's banking and finance, corporate and disputes practitioners, among others, to provide a holistic approach to restructuring and insolvency matters. The firm leverages its international network to assist public and private sector clients with cross-border mandates pertaining to financial restructurings, reorganisations, insolvencies and the related litigation. Daniel Karlsson and Christoffer Monell co-head the team, with Karlsson a key name for banking and finance work and Monell handling disputes.

Practice head(s):

Daniel Karlsson; Christoffer Monell

Key clients



Apikal Fastighetspartner AB and Apikal Fastighetspartner II AB

Telenor Sverige AB

SAS AB/Scandinavian Airlines System Denmark-Norway-Sweden

Ackordscentralen Väst AB

Work highlights

  • Acting for SAS AB/Scandinavian Airlines System Denmark-Norway-Sweden in the ongoing restructuring proceedings, including the court supervised Chapter 11 proceedings in the US and the implementation of SAS’ business transformation plan SAS FORWARD.
  • Representing Trafikverket in connection with the formal reorganisation and the associated judicial composition proceedings of Infraservice Group Scandinavian AB.
  • Representing Apikal Fastighetspartner AB and Apikal Fastighetspartner II AB in the bankruptcy proceedings (including proof of claim proceedings) of Nordic City Properties AB.

Advokatfirman Schjødt

Advokatfirman Schjødt fields ‘a strong team with great experience’, which handles cross-border matters from its offices in Norway, Denmark, Sweden and the UK. Key pillars of the practice include acting as receivers in bankruptcies and administrators in company reorganisations, as well as handling other insolvency and financial restructuring issues. Christofer Hemsedahl and Hedvig Mårstad jointly head up the team, which also includes Emma Berglund Uväng, who has over 15 years’ experience in insolvency matters; Hans Renman, who is a key name for disputes and insolvency litigation; and Lars Eric Gustafsson, who has over 30 years’ experience in insolvency law and often handles reorganisations and general corporate matters.

Practice head(s):

Hedvig Mårstad; Christofer Hemsedahl

Other key lawyers:

Lars Eric Gustafsson; Hans Renman; Emma Berglund Uväng


‘One of the leading teams on the market.’

‘Hans Renman: one of the sharpest academic-focused lawyers in the insolvency field.’

‘Lars Eric Gustafsson: Experience from the biggest cases on the market. Emma Berglund Uväng: Has a growing business and a good standing.’

‘Schjødt does solid work and I do not hesitate to send complex assignments to them.’

‘Hans Renman is one of the top lawyers in Sweden when it comes to claw back issues in bankruptcies.’

‘Emma Berglund Uväng is a solid insolvency practitioner and really great to work with; always responsive and easy going.’

‘I found them very professional, knowledgeable, approachable and responsive. Everything you want from local counsel, and more.’

‘Strong team with great experience.’

Key clients

Metro Media House AB and Tidnings AB Metro

Axxonen Holding AB

Stockholm Hand & Fotkirurgikliniken AB

Smart Living Group

Transtema Infrastructure AB

Systemhus AB

Hotell Norrtull i Vasastan AB and Ramenco AB

Constrera AB

MI Andersson Fastighetsbolag AB

Goyada Aktiebolag

Adelsö Entreprenad & Transport AB

Sea Life Group (Sea Life AB)

Gotoga Group (Gotoga AB)

Liv ihop AB

Applied Nano Surfaces Sweden AB

Work highlights

  • Appointed as official receiver in the bankruptcy of Adelsö Entreprenad & Transport AB.
  • Advised Liv ihop AB (parent company) with subsidiaries; Liv ihop Syd AB, Liv ihop Sydost AB, Liv ihop LSS AB, Atlas Assistans AB and Svea Assistans Kommanditbolag, on its reorganisation.
  • Advising Goyada Aktiebolag, CashCom i Sverige AB and other companies in the same group on a number of bankruptcy issues.

Advokatfirman Vinge

The restructuring and insolvency team at Advokatfirman Vinge draws on its banking and finance, corporate, debt and equity capital markets, and employment teams to advise on bankruptcies, restructuring issues and contentious matters, including litigation and arbitration proceedings. The team is led by Albert Wållgren, Morgan Hallén and Henrik Ossborn; Hallén has over 30 years’ experience in restructuring and insolvency work, and also advises on real estate matters and disputes. Anna Palmérus is often involved in large bankruptcies and liquidations and frequently acts as court-appointed receiver.

Practice head(s):

Albert Wållgren; Morgan Hallén; Henrik Ossborn

Other key lawyers:

Anna Palmérus

Key clients

ITAB Shop Concept AB

The Swedish State

Odlo International AG

Work highlights

  • Advising ITAB in connection with a recapitalisation of SEK868m.
  • Represented the Swedish State in the Swedish State recapitalisation of flight carrier SAS via a credit line of SEK3bn with the Swedish and Danish states as lenders.
  • Represented Odlo International AG on its agreement to acquire British sailing brand, Henri-Lloyd.


Wistrand fields ‘a strong team with good practitioners’ and has considerable experience in both contentious and non-contentious restructuring and insolvency matters. Working closely with its banking and finance practitioners, the team advises on debt restructurings and its partners are often appointed as bankruptcy trustees and administrators for company reorganisations, as well as administering the winding up of companies. The team is jointly led by Christian Bergqvist and Jörgen Wistrand; Bergqvist is a key name for distressed matters and restructurings. Fredrik Thor handles bankruptcy trustee work and liquidations, Nina Baecklund is recommended for advice to distressed companies, and Marek Keller was promoted to partner.

Practice head(s):

Christian Bergqvist; Jörgen Wistrand

Other key lawyers:

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


‘Wistrand is one of the best firms in the Swedish market.’

‘Wistrand have particular strength when it comes to insolvency litigation.’

‘Wistrand does solid work and I do not hesitate to send complex assignments to them.’

‘The work has mainly been done by partner Anders Nilsson, one of the brightest insolvency lawyers in the Swedish market and a lawyer with in-depth knowledge of insolvency litigation.’

‘Strong local reach and high degree of business/legal knowledge/skills.’

‘Strong team with good practitioners.’

‘Knowledgeable, the team consists of highly competent employees who have experience that can help find solutions to the complex problems that often arise in insolvency.’

Key clients

The Bankruptcy Estate of Lovön Samverkan AB


AQ Segerström & Svensson AB in bankruptcy

Adviral AB

Saab Automobile bankruptcies

Engineering Solutions AB in bankruptcy

Digital Inn AB in bankruptcy

Sulitelma bankruptcies

Bolder Sweden AB in bankruptcy

Panier Svenska AB and Svanskog AB in liquidation

Aros Bygg & Förvaltning AB in bankruptcy

Work highlights

  • Appointed bankruptcy receiver of Aros Bygg & Förvaltning AB in May 2022.
  • Appointed as liquidator of Panier Svenska AB and Svanskog AB in January 2021.
  • Advised Maderna on some 20 plus matters which often include financing solutions for companies which have some economic difficulties to deal with.

Advokatfirman Cederquist KB

The restructuring and insolvency team at Advokatfirman Cederquist KB is particularly strong in debt restructuring matters and acts for creditors, borrowers, sponsors and suppliers. The group leverages support from the firm's banking and finance, capital markets, disputes and corporate departments to provide a holistic approach and has a strong position in leveraged and structured finance work, alongside a growing corporate recovery practice. Johan Lundberg heads up the team and is a key name for financing and restructuring work. Eminent practitioner Svante Hultqvist offers similar expertise, including knowledge of investment grade and real estate finance work, bonds and restructurings.

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

Apollo Global Management

Advokatfirman Fylgia KB

The ‘well-connected and highly respected’ team at Advokatfirman Fylgia KB handles insolvencies, restructurings, disputes and creditor rights issues and its partners often act as bankruptcy administrators. The team's client roster includes a range of entities, from small businesses to listed companies, and the practice has considerable experience in cross-border mandates. Jakob Callmander leads the team and advises on the drafting of loan agreements and issues relating to the structuring of credit facilities, as well as bond-related matters. Mathias Winge is a key name for restructuring work, securities law issues and M&A-related advice pertaining to insolvent companies.

Practice head(s):

Jakob Callmander

Other key lawyers:

Lars Nylund; Johan Norén; Mathias Winge; Thomas Ehrner


‘They are well connected and highly respected with Swedish regulators and manage to keep a good professional dialogue to agree more pragmatic approaches to any action being taken.’

‘Fylgia is a good choice for local insolvency matters. They have a large team of experienced insolvency practitioners.’

‘I have worked for many years with partner Mathias Winge. Mathias is easy going and good to work with. He has certain knowledge of real estate insolvencies.’

Key clients

Scandinavian Credit Fund I AB

Intertrust AB (Sweden)

Work highlights

  • Advising Bounce Scandinavia Holding AB and subsidiaries in Sweden and Denmark on a bankruptcy.
  • Advising Best of Brands Europe AB and its subsidiaries on a bankruptcy.


Roschier advises clients on restructurings, contingency planning issues and distressed debt trading. Johan Häger heads up the practice and has extensive experience in LBO financings and high-yield bonds, as well as the restructuring of bank loans and bonds. Former practice co-head Fredrik Rydin left to found consulting firm Rydin Advisory and Niklas Eriksson joined from an in-house role.

Practice head(s):

Johan Häger

Other key lawyers:

Niklas Eriksson; Carl Brodén


‘Outstanding advice, always available and highly competent.’

‘Driven, results orientated and motivated to always perform – best service.’

‘Roschier are extremely experienced in the field of high yield bonds in Sweden. Johan Häger and Niklas Eriksson are extremely talented and good to work with.’

‘Carl Brodén is the go-to-guy when it comes to complicated matters involving different debt layers, inter creditor issues and formal insolvency proceedings.’

Key clients

Davidson Kempner European Partners

Houlihan Lokey


JOOL Markets AS

Nordic Trustee & Agency AB


Work highlights

  • Acted for an ad hoc bondholder committee and the bondholder trustee, Nordic Trustee & Agency AB, in connection with the financial restructuring of the clothing retail company RNB Retail & Brands AB.
  • Advised Ziton, active in the offshore wind farm service industry, regarding its financial restructuring.
  • Acted for a syndicate of financial institutions in connection with the restructuring of Nynas AB.

White & Case Advokat AB

White & Case Advokat AB advises on financial restructurings, insolvencies and workouts, including those pertaining to transactions and litigation. Drawing on its global network for support, the practice is well placed to handle cross-border matters. Magnus Wennerhorn and Carl Hugo Parment co-head the team; both are experienced in capital markets transactions and bond restructurings, and Wennerhorn also handles regulatory matters.

Practice head(s):

Carl Hugo Parment; Magnus Wennerhorn

Other key lawyers:

Oscar Liljeson

Key clients

GLAS Trustees Limited

Goldman Sachs

Work highlights

  • Advised J. Aron & Company LLC, an affiliate of Goldman Sachs, on its entry into an oil inventory monetisation arrangement with Nynas AB.
  • Advised GLAS Trustees Limited in connection with multiple bankruptcy proceedings in Sweden, including the review of court documents and contact with the administrator.

Baker McKenzie

Led by disputes practitioner Erik Forsin, Baker McKenzie’s restructuring and insolvency team utilises its global network for support on cross-border cases and often acts for large multinational companies with interests in Sweden. Bankruptcies are a key area of focus for the team and Forsin is experienced in contentious M&A.

Practice head(s):

Erik Forsin

Key clients

Swedish Government

Work highlights

  • Acting for the Swedish Government (the 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.

Hannes Snellman

Hannes Snellman’s finance and restructuring team is led by Fredrik Olsson and cooperates closely with the firm’s employment and M&A teams to handle contentious and non-contentious restructuring and insolvency matters, often with a cross-border element. Managing partner Olsson is recognised for his experience in financing transactions and private equity-related restructurings, while Ola Åhman handles all kinds of distressed situations and acts for companies, boards and management, creditors and suppliers.

Practice head(s):

Fredrik Olsson

Other key lawyers:

Carolina Wahlby; Ola Åhman; Maria Orrgard


The restructuring and insolvency group at Setterwalls specialises in debt restructuring work, including loan restructurings, out-of-court refinancings and distressed debt trading issues. The group also deals with insolvency proceedings and other related disputes. Mikael Magnusson heads up the team.

Practice head(s):

Mikael Magnusson


‘Dedicated and professional team. Commercial and committed. Through review before sending docs across which limits the amount of annoying typos.’

‘Partner attention throughout the entire transaction.’