Abandonment
When the bankruptcy trustee formally renounces property in the bankruptcy estate, often because the costs of administration exceed the property's value.
Composition (Debt Settlement)
A reduction of a company’s debts to a specified percentage, e.g., 25% or 50% of the outstanding amount.
Objection
A challenge made by the trustee or a creditor during the claims review process, disputing the validity or amount of a submitted claim.
Exempt Property (Beneficium)
Assets the debtor is legally entitled to keep in the event of enforcement or bankruptcy.
Claims Review Procedure (Bevakningsförfarande)
A court-supervised process where creditors must formally file claims to be entitled to receive payment from the estate.
Creditor
A party to whom money is owed; also referred to as a claimant.
Creditors’ Meeting
A meeting held in court involving the creditors of a company undergoing business reorganisation.
Oath Meeting (Edgångssammanträde)
A court session where the debtor, under penalty of perjury, confirms the accuracy of the balance sheet, assets, liabilities, and accounting records.
Late Filing (Efterbevakning)
If a creditor misses the filing deadline, they may still submit their claim by paying a fee.
Swedish Economic Crime Authority (Ekobrottsmyndigheten)
A specialised public authority investigating financial crimes. Trustees must report any suspected criminal activity, such as accounting offences.
Real Property
Land or immovable property (e.g., buildings and land parcels).
Claim (Fordran)
The right to receive payment from another party.
Floating Charge (Företagshypotek)
A form of security over a business's movable assets.
Corporate Restructuring (Företagsrekonstruktion)
An alternative to bankruptcy for financially distressed companies with potential for survival. A court-appointed administrator examines the company’s viability and seeks agreement with creditors.
Priority Right (Förmånsrätt)
The statutory right of a creditor to receive payment ahead of others, based on ranking under Swedish law.
Trustee’s Report (Förvaltarberättelse)
A report outlining the causes and timing of insolvency, the quality of accounting, any unlawful transfers, potential liability under company law, and transactions subject to clawback.
Debtor (Gäldenär)
The party that owes money.
Interim Report (Halvårsberättelse)
A report submitted by the trustee every six months, summarising actions taken in the bankruptcy process.
Appeal (Klander)
A creditor, debtor or supervisory authority may challenge the trustee's actions by filing a complaint within a set period.
Bankruptcy (Konkurs)
A legal process where a debtor's assets are taken over by a trustee and liquidated to pay creditors.
Bankruptcy Estate (Konkursbo)
The legal entity formed by the bankrupt party’s assets, represented by the trustee.
Inventory of Estate (Konkursbouppteckning)
A list of the debtor’s assets and liabilities prepared by the trustee.
Bankruptcy Trustee (Konkursförvaltare)
A court-appointed individual with specialised legal and financial knowledge responsible for managing the bankruptcy.
Bankrupt Debtor (Konkursgäldenär)
The person or entity declared bankrupt.
Set-off (Kvittning)
Mutual claims may cancel each other out, subject to special rules in bankruptcy.
Wage Guarantee (Lönegaranti)
A government scheme ensuring employees receive unpaid wages during bankruptcy or restructuring.
Movable Property (Lös egendom)
All property that is not classified as real estate.
Estate Claim (Massafordran)
A claim arising against the bankruptcy estate after the bankruptcy has been declared.
Insolvency (Obestånd)
The inability to pay debts as they fall due, where the inability is not temporary. Insolvency is a prerequisite for bankruptcy.
Pledge (Panträtt)
A security interest in property. If the debtor defaults, the creditor can sell the pledged asset to recover the debt.
Statute of Limitations (Preskription)
A claim may be time-barred if not enforced within a specified period (usually 10 years), after which payment can no longer be demanded.
Restructuring Plan
A plan drawn up by the administrator during corporate restructuring, detailing how the company can return to profitability.
Administrator (Rekonstruktör)
The court-appointed individual who manages a business reorganisation process.
Third-party Property (Separationsgods)
Property that legally belongs to someone other than the debtor and is therefore not part of the bankruptcy estate.
Final Report (Slutredovisning)
The trustee's final account of how the estate’s assets were managed.
Bankruptcy Supervisory Authority (Tillsynsmyndigheten i konkurser)
A division of the Swedish Enforcement Authority that oversees trustees in bankruptcy.
Distribution (Utdelning)
The funds paid to creditors after approval of the distribution proposal.
Distribution Proposal (Utdelningsförslag)
The trustee’s suggestion for how remaining funds in the estate should be distributed among creditors, subject to court approval.
Clawback (Återvinning)
Transactions made by the debtor before bankruptcy may, under certain conditions, be reversed to benefit the estate.
