Monday, November 24, 2008

Swedish Bankruptcy Law – Lodging of Creditors’ Claims

If the assets are sufficient for full or part payment to the creditors who do not have a preferential claim, a proof of claim procedure is initiated by the receiver, who then applies to the court for such a procedure to start. The court decides on whether to grant the application and also on the length of time the procedure will last, which must be at least four but no longer than ten weeks.

The court’s decision to start a proof of claim procedure will be published in the Official Swedish Gazette and in one or more newspapers in the applicable geographical area. The creditors will then be allowed to lodge their claims in writingwith the court.

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