If you want to get paid (as a creditor), you can file for bankruptcy or company reorganisation for the person who must pay. You do so with the District Court. In your application, you can propose who should be the receiver. With respect to company reorganisation, you must propose who should be the administrator.
You can find more information on the Swedish Courts website about how to apply and what happens in the event of bankruptcy or a company reorganisation.
If the District Court decides on bankruptcy or reorganisation, they appoint a receiver or administrator. Those appointed as receivers and administrators are experienced lawyers or legal practitioners with specific knowledge and experience of handling bankruptcies.
You can find information in Post- och Inrikes Tidningar (PoIT) if a company has been declared bankrupt or is undergoing reorganisation.
How to file your claims in bankruptcy
You file your claims with the receiver. The receiver compiles all assets and debts in the bankruptcy in a bankruptcy estate inventory.
The receiver may request claims proceedings. This applies in bankruptcies where there is money to be distributed and it is unclear how to distribute it. The District Court decides to initiate claims proceedings. If so, you as a creditor must notify the District Court in writing that you have a claim (proof of claim) and the amount. The District Court notifies known creditors and announces in the official gazette Post- och Inrikes Tidningar that claims proceedings are initiated.
When can you get paid in bankruptcy?
The money in the bankruptcy must first be used to pay the receiver and the costs of the bankruptcy estate.
If there is money left when the bankruptcy costs have been paid, the District Court decides how it should be distributed between the creditors. The receiver's distribution proposal lists who are going to be paid and how much. The receiver distributes the money.
If you want to know more about what happens when someone has gone bankrupt, you can find information on the Swedish Courts website.
When can you get paid in a reorganisation?
When a company is under reorganisation, the administrator must examine whether the company can get out of its financial problems and, if so, in what way. The work is done together with management. The administrator shall also assist management in drawing up a reorganisation plan. The plan describes how the company will overcome its financial difficulties and continue to operate. The plan may also include a debt settlement. Then you and the other creditors may be paid in full or in part. The reorganisation plan may also change the terms of your claims, such as time for payment or interest.
FThe company can request a District Court hearing on the reorganisation plan. Then you and the other parties must vote on the plan. The District Court must then decide whether to affirm it.
You can find more information about what happens in company reorganisation on the Swedish Courts website.
Support for you who are not paid
You as a private individual or entrepreneur may, worst case scenario, run into payment difficulties if you do not receive payment from someone who owes you money. If you are worried about your finances, you can find tips and support on our website.