Tuesday, February 24, 2009

Swedish Law – Company Reorganisation

Application and Court Decision

The application for reorganisation should be filed with the district court which has territorial jurisdiction over the company. The court will make a decision immediately if the application has been made by the company; normally on the day the application is filed. If the application is filed by a creditor, a court meeting to try the application will be held within two weeks.

If the court decides that a reorganisation shall take place, it will also appoint an administrator of the reorganisation and decided a date for a creditors meeting, which normally will be held within three weeks.

The decisions of the local court may be appealed to the applicable Court of Appeal, if permission is granted, and to the Swedish Supreme Court.

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