Thursday, March 12, 2009

Swedish Law – Company Reorganisation – Right to Set-Off

The basic rule concerning right to set-off is that anyone who held a claim against the company when the application for company reorganisation was filed has the right to offset such claim against claims which the company had at such date against such person. The right to set-off applies even if the claim was not due and payable.

There are, of course, some exemptions to this basic rule and I will cover them in my next blog post.

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