Chapter 1. Introductory provisions
§ 1 a trader with financial difficulties may, under
the provisions of this law, after the decision of court bringing about a
special procedure to reconstruct its business
(corporate restructuring).
section 2 Under a corporate restructuring, one of the court appointed
administrator whether the activity which the debtor can
to be continued in whole or in part and if so, how this can be done, and if
There are conditions for the obligor to meet an economic
arrangement with their creditors (chords). The administrator shall, when
He fulfills his mission work to creditors not
overrides.
Of Chapter 3. section 1 shows that judicialcompositionproceedings can own
during a corporate restructuring.
3 §/expires U: 2016-03-01/
The provisions of this law if the debtor does not apply to banking companies, savings bank, Credit Union, credit market companies, insurance companies, securities companies, clearing house and central securities depository.
The provisions relate to nor such debtors in the activity of the State, a municipality, a County, a municipal Association, a church or a religious community has a controlling interest.
The provisions of this law if the debtor does not apply either a financial institution or holding company which is subject to resolution pursuant to lagen (2015:1016) for resolution.
Law (2015:1027).
3 section/entry into force: 03/01/2016
The provisions of this law if the debtor does not apply to banking companies, savings bank, Credit Union, credit market companies, insurance companies, securities companies, clearing house and central securities depository.
The provisions relate to nor such debtors in the activity of the State, a municipality, a County, a municipal Association, a church or a religious community has a controlling interest.
The provisions of this law if the debtor does not apply either a financial institution or holding company which is subject to resolution pursuant to lagen (2015:1016) for resolution.
Law (2016:50).
4 section/entry into force: 04/01/2016
If, in the law (2015:860) om international
security rights in movables of any provision
deviating from this Act, apply to that provision.
Law (2015:867).
Chapter 2. Corporate restructuring in General
Application for corporate restructuring
§ 1 an application for a corporate restructuring may be made by
the debtor or by a creditor. The application shall be made
in writing to the District Court where the debtor should respond in
civil cases concerning liability in General.
The application document shall be signed by
the applicant or the applicant's agent.
In the application, the applicant shall specify and substantiate the facts
make the right jurisdiction, if they are not known.
In section 2 of the Act (2005:1046) with complementary provisions to the
the insolvency regulation provides additional provisions regarding
application content. Act (2005:1053).
section 2 Has an application for corporate restructuring made in a District Court
who is not competent, the Court shall immediately send the documents in the file
to the District Court that according to what these shows are competent and
inform the applicant. The application shall be deemed to be made, when the documents came
in the last District Court.
section 3 of The application by the debtor shall contain
1. a concise statement of the debtor's finances and the causes
to payment difficulties,
2. a creditor list,
3. a description of how the debtor intends to practice
be conducted in the future and a settlement is reached with its creditors, and
4. a proposal for "Administrator" as well as necessary information about his
fitness for the assignment.
section 4 of the application by a creditor shall contain
1. indication of the creditor's claim against the debtor,
2. information about the debtor's financial difficulties, and
3. a proposal to "Administrator" as well as necessary information about his
fitness for the assignment.
section 5 of the application shall be rejected if it does not contain such
information required by 1, 3 and 4 sections, and the applicant does not comply with
an order to remedy the deficiency.
Conditions for decisions on corporate restructuring
section 6, A precondition for decisions on corporate restructuring,
communicated is that it can be assumed that the debtor is unable to pay its
arrears or that such inability arises shortly.
Decision on reorganisation proceedings shall be granted if it is missing
reasonable grounds to believe that the purpose of the corporate reorganisation can
is achieved.
An application by a creditor may be granted only if the debtor has
accepts the application.
Examination of the application for reorganisation
section 7 if the debtor's application, the Court shall immediately try it,
subject to the provisions of paragraph 8 of the second paragraph.
section 8 If a creditor's petition, it shall set a
sitting for the examination of the application. The meeting will be held
within two weeks of the application came in to the right. If the
There are special reasons, it may be later, but no later than
six weeks.
To the meeting of the Parties shall be called. The debtor must in
the notice at the hearing to comment on the latest
the application. The notice shall also state that the meeting will
be set, if the debtor before the meeting itself applies for
corporate restructuring or in writing permits the creditor's
the application and the law does not specifically informs him that
the meeting will be held. The Parties shall be informed in the notice
If the content of section 9.
The summons shall be served on the parties. Service on the debtor is
not happen according to 34-38 and 48 sections method law (2010:1932).
The debtor must be notified at the same time as the notice of creditor
pleadings. Law (2010:1967).
section 9 If multiple applications in respect of the same debtor are pending
at the same time, and if another application is approved, than the one that came in first,
be it regarding matters that are dependent on time of application
It is considered that if the decision regarding reorganisation has been based on the
the application that came in first.
A creditor's petition are due on
1. the debtor in writing of opposition,
2. the debtor or the creditor fails to materialise from the meeting
referred to in section 8, or
3. the debtor is declared bankrupt.
If the application is due before the hearing the Court shall set the
the hearing and notify the parties.
section 10 If an application is granted, the Court shall at the same time appoint a
"Administrator". Are there specific reasons are given more than one administrator
be appointed.
Law shall also determine the date of a creditors ' meeting
before the Court. The meeting shall take place within three weeks from the
decision on reorganisation or the longer time after
the decision which is indispensably necessary.
The Administrator's tasks
section 11, an administrator shall have the special insight and experience
as the mission requires, have creditors ' confidence, as well as in other
be suitable for the mission.
Anyone who is employed by the Court or enforcement authority may
not be "Administrator".
An administrator that is not appropriate or for any other reason,
separated from the mission to be dismissed by the Court. Questions about
dismissal is taken up at the request of the administrator, a creditor or
the debtor. Law (2006:723).
section 12 of the administrator, as he fulfills the tasks set out in the
Chapter 1. 2 § investigate the debtor's financial situation and in consultation
with the debtor establish a plan setting out how the purpose of the
the reorganisation is to be achieved (restructuring plan). Plan
shall be submitted to the Court and the creditors.
The administrator may call upon expert assistance.
That the administrator may bring an action for recovery is apparent from Chapter 3.
section 6.
section 13, the administrator shall, within one week from the decision
corporate reorganisation notify all known creditors
the decision.
The notification shall be accompanied by
1. a provisional list of the debtor's assets and
liabilities,
2. debtor's latest balance sheet and additional information
needed if his financial position,
3. a statement of the reasons for payment difficulties and about how
activities can be reconstructed, and
4. indication of the timing of the creditors ' meeting as determined
According to section 10, second paragraph.
If the number of creditors with claims without preferential rights is very
wide, notices to such creditors may be replaced by a
notice by public notice. Such a notice shall
contain information about the decision on reorganisation of
the date of the creditors ' meeting.
The debtor's obligations
section 14 of the debtor is required to make the administrator all
information about their economic circumstances which are relevant for
the reconstruction of the business.
Be presented by the debtor to follow instructions on how
the activities to be carried out.
section 15 may not be presented by the debtor without the consent
1. to pay debts incurred before the decision on the
corporate restructuring or providing security for such liabilities,
2. undertake new obligations, or
3. transfer, pledge or grant any other rights to property of
essential to the debtor's business.
Overrides the debtor as provided for in the first subparagraph will impact
This is not on legal validity.
The administrator may agree to a payment referred to in the first
paragraph 1 only if there are serious reasons.
Creditor's meeting and the creditors ' Committee
section 16 of the creditors at the creditors meeting shall be given the opportunity
to pronounce itself on the question of the reorganisation should continue.
If any creditor so requests, the Court shall at the meeting among
the creditors appoint a creditors ' Committee. The Committee may include no more than
three people. If the debtor during the last past fiscal year
working an average of at least 25 workers, the employees right
that, in addition, designate a representative to the Committee. If there is
specific reasons are given, the right to appoint additional persons to be included in the
the creditors ' Committee.
The administrator shall consult with the major issues
the creditors ' Committee, unless something stops it.
Enforcement measures during a corporate restructuring
section 17 during the time the corporate reorganisation is underway, garnishment
or other enforcement under the enforcement code does not take place against
the debtor. Enforcement, however, must be made of the claim for which
the creditor has hand lien or liens, or for claims
relating to child support. Assistance pursuant to lagen (1978:599) if
hire purchase between traders and others. may not take place.
Under the corporate reorganisation must not be communicated to the decision
garnishment or payment assurance.
section 18 if there are special reasons to fear that the debtor
or fails to take a certain action, thereby putting a
creditors ' rights in jeopardy, right at the creditor's request, decide whether the
appropriate measure to ensure his or her right. The provisions of section 17
does not prevent the enforcement of such a decision.
section 19 of Chapter 2. 10 a of the Bankruptcy Act (1987:672) Regulations if
a creditor's petition for the debtor declared bankrupt
during the ongoing corporate restructuring.
The debtor's agreement
section 20 Has the debtor's counterpart before the decision on
reorganisation proceedings a right to rescind a contract on the basis
of occurred or feared delays in payment or other
performance, the other party may terminate the contract after the decision on
because of the delay, if the debtor be presented by
consent request within a reasonable period of time to be completed.
The debtor shall, at the request of the opposing party within a reasonable time notify
If the agreement should be completed.
Should a deal be completed pursuant to the first subparagraph applies
the following.
1. Is the time for the other party's performance inside, the debtor on
the counterparty's request comply with their corresponding performance
or, if the period of grace has been granted in respect of certain achievements,
providing security for them.
2. Is the time for the other party's performance has not come,
the counterparty the right to obtain security for the debtor's future
performance to the extent of the particular cause is necessary
to protect itself against loss.
If the debtor does not provide notice pursuant to the first subparagraph, second
sentence or fails to fulfil the obligations imposed on other
paragraph, the other party may terminate the contract.
A contractual term which restrict the debtor's rights under
the first and second subparagraphs is invalid.
On the readmission of being forwarded to the debtor then
an application was made on debt restructuring regulations in
paragraph 63 sales law (1990:931).
This clause does not apply to employment contracts or for a
creditor who holds financial instruments, currency or
such claims as referred to in Chapter 8. section 10, second paragraph
Bankruptcy Act (1987:672) as collateral. Law (2011:730).
Settlement
section 21 of the one who had a claim against the debtor when application for
corporate restructuring was allowed, even if the claim is not
due, use it to set-off against
the claim that the obligor had against him. However, this does
No, if the settlement is out of the question for any of the
the nature of the debts or exceptions according to what is being said
below.
If a claim against the debtor has acquired through transfer
from a third party not later than three months prior to the application for
corporate restructuring, it must not be used to set-off
against a claim that the debtor had when the creditor acquired
his claim, if the acquisition is not in the circumstances
can be regarded as ordinary. In the case of the estate of count time, however,
from the application for the assignment of the estate to the management of
executor, provided that an application for
reorganisation followed within three months of a
executor appointed. This ban also applies, if a
the claim against the debtor has acquired in the past by such
prisoners and the creditor then had reasonable cause to suppose
the debtor was insolvent.
A creditor who has put themselves in debt to the debtor under
such circumstances that it is equivalent to payment
other than the usual means of payment, may not settle, in the
extent that such payment could have been target of recycling
According to Chapter 3. 5-7 sections.
A claim for compensation due to a guarantor or
other following an obligation he fulfilled
(regressfordran) is considered in application of the foregoing have
acquired when his commitment was founded.
Leave the debtor since the application for reorganisation
made a claim as to a creditor, thereby losing the right
the settlement, he shall compensate the creditor for this.
Act (2005:198).
Chapter 3. Creditors in corporate restructuring
paragraph 1 of the law, in a case about corporate restructuring at the request of the
the debtor to decide on judicialcompositionproceedings
(composition proceedings).
Conditions for judicial administration
section 2 of the a public chord may relate to the requirements of the
creditors as referred to in paragraph 3 may take part in the composition the hearing set down
and payable on specified ways. The arrangement shall provide all
creditors on an equal footing as correct and at least twenty-five per cent of
the amount, unless the lower chord percent approved by the
all known creditors who would be covered by the chord or the
There is a particular reason for a lower percentage. The prescribed minimum dividend
shall be paid within one year after the chord has been established, if
not all those creditors accept longer payment time.
Notwithstanding the first subparagraph, a public chord contain
condition that creditors receive full payment next to the amount, if
the deviation can be considered reasonable with respect to the extent of the estate and
circumstances of the case. A deviation to the detriment of a creditor
may also take place, if he accepts it.
A chord may also refer to the debtor may only be deferred
payment or other special remission. In so doing, apply first
and second subparagraphs.
Creditors at the creditors
section 3 of the composition proceedings participate only creditors whose
claims incurred prior to the application for corporate restructuring. A
creditor can get coverage for their claim through set-off
or whose claim is joined with preferential rights does not participate in the
the hearing. A creditor in bankruptcy would be entitled to
payment only after other creditors are involved neither in the
the hearing unless the other creditors who participate in
the hearing allows it.
If a creditor total or partial waiver of lien
or, he or she participates in the hearing of
correspondingly. Can a creditor only partly
be covered by set-off or fall below the value of the property
in which a creditor has special preferential creditor
the claim, he or she participates with the remaining part of the
the claim.
The proposal contains a provision that creditors
who do not have the right to receive full payment next to a particular
amount, their receivables in the arrangement procedure is considered as
beneficiary accordingly.
A creditor may participate in the hearing, even if the claim is not
is due or is dependent on the particular
terms and conditions.
With creditors who have preferential rights on the same footing as a creditor
to the security of his claim has made reservations about
withdrawal right. Law (2008:997).
A majority of creditors at the creditors
4 section A composition proposal which gives at least fifty percent of the
the amount of the claim shall be deemed to be accepted by the creditors, if three
fifths of the voters have accepted the proposal and their claims
amounts to three-fifths of those voting claims
total amount. The percentage is lower, the composition, the composition proposal
is considered adopted, about three-quarters of voters have agreed
the proposal and their debt amounts to three quarters of the
voting the total amount.
Recovery under the corporate reorganisation
paragraph 5 of the Then decision about reorganisation is applied
the provisions of the Bankruptcy Act (1987:672) on recovery in bankruptcy, if
creditors are laid down.
Sought recovery of preferential payment or payment that is gained through
seizure, the Court may decide that continued enforcement of the
the enforcement proceedings suspended may take place.
section 6, an action for recovery brought by the administrator or by a
a creditor whose claim would be subject to a public chord. Action
shall be brought before the meeting of creditors referred to in section 13 and may
not final examine before the question of judicial administration have been
foregone conclusion. A creditor wishing to bring proceedings shall notify the
the administrator. If not, his actions are not taken up
to trial.
Ends corporate reorganisation without creditors have
come into being and not the debtor is declared bankrupt after
application made within three weeks of the
corporate reconstruction ended, the action raised
is rejected.
7 § what is won by action, then the plaintiff's
costs have been replaced, apply the creditors that are subject to the
public chord. A defendant by reason of the plaintiff's action
can make a claim against the debtor is involved with the claim in
composition the hearing and has the right to set off the dividends
they are entitled to what he
would otherwise have paid.
If the recovery target is sought by a creditor who is covered by the
the public chord or by the debtor, the Court may provide for
special management of what is referred to in the first subparagraph shall apply
the creditors. Property that has been placed under such management may
be imposed only if the arrangement has expired.
Effect of judicial administration
section 8 a set of chords is binding on all creditors,
both known and unknown, as referred to in paragraph 3 had the right to participate in
composition the hearing.
A creditor in bankruptcy would be entitled to payment only
after other creditors lose their entitlement to the payment of
the debtor, unless all the creditors who were entitled, under paragraph 3 of
to participate fully in the hearing satisfied by arrangement
the chord.
A creditor with a right in the property is bound by
the arrangement in respect of amounts that cannot be removed from the property.
Law (2008:997).
§ 9 A creditor who has authorized a composition proposal does not lose
through the approval of his right against guarantors or other program except
the debtor is liable for the claim.
A request for composition proceedings
section 10 A request for composition proceedings shall be made in writing.
The letter must include a composition proposal which indicates how much
the debtor offers payment and when the payment is to be made and if
Security has been lodged for the accord and what it consists of.
The letter must be accompanied by a list of assets and
liabilities issued by the Administrator pursuant to section 14 of the earliest
three months before the application for composition proceedings was, as well as the
latest balance sheet.
section 11 To a request if composition proceedings shall also be accompanied by the
1. a report by the administrator stating the estate permits and
the causes of the financial difficulties of the debtor and contains a
Overview of assets and liabilities, an indication of the dividend that
can be expected in a bankruptcy, as well as information on the property has been abandoned
the debtor is under such circumstances that it may be subject to
recycling, when there are reasonable grounds to assume the debtor has
guilty of crimes against his creditors and, if so,
the basis, therefore, as well as how the debtor has fulfilled its
the accounting obligation,
2. the opinion of the administrator as to whether he believes that
the proposal should be adopted by the creditors,
3. a certificate of the administrator to creditors as to the number of
make up
at least two-fifths of those in the estate inventory listed creditors
whose claims would be covered by the accord and which together
holding at least two-fifths of the total amount of these receivables
have declared that they considered the piecework acceptable,
4. evidence to be presented by the proposal and the story
and the opinion has been sent to all creditors listed in
the estate inventory,
5. advance payment, with the amount that Government provides, at the cost of
the composition question's handling of right and by law approved
Security for what is not covered by the advance.
The documents and information referred to in the first subparagraph and in paragraph 10
do not need to be submitted, to the extent that they have already submitted to the right and
creditors in the case.
12 § request for composition proceedings is inadmissible if it does not
satisfy the requirements set out in sections 10 and 11 and the debtor does not comply with
an order to remedy the deficiency.
Decision if composition proceedings
13 § On request if composition proceedings, the Court shall immediately
inform decisions about the composition proceedings. At the same time, the right
1. determine the timing of a meeting of creditors in the face
right,
2. call the obligor, the administrator and the creditors to
the meeting, and
3. announce the decision in post-och Inrikes Tidningar and in other on
the way that Government provides.
Probate
section 14 of the probate referred to in section 10, second paragraph, the
the assets will be carefully estimated values. If
possible, it also provided a detailed indication of the values
as in posting the documents have been the assets or, when
such a valuation has not been made, if the acquisition cost.
The estate inventory should also include an indication of each creditor
name and mailing address.
Interest on a creditor's claim should not be calculated beyond
the date of the application for corporate restructuring. A claim in
Foreign coins must be calculated according to the rate applicable
said date.
A creditor has the preferential right shall be entered, together with the Foundation for
it.
If anyone objects to a claim or evaluated the value of the
property, in which a creditor has special priority,
be less than his or her claim, it should be specified.
Law (2008:997).
Later notified claims
section 15 Would anyone participate in composition the hearing with a claim that does not
included in the estate inventory and also not later become famous,
He should notify the administrator in writing of the claim within one
week prior to the meeting of creditors referred to in section 13. Notified a
the claim later, it must not lead to the creditors ' review of
the composition proposal.
Objections against the claim covered by the chord
section 16 if the debtor or a creditor to object against a
the claim would be covered by the accord, should he or she do
the writing of the administrator as soon as possible
and in any case before the vote at the creditors ' meeting
under the arrangement the hearing.
The administrator will find reason for complaint against a claim
that would be covered by the chord or the debtor
or a creditor such remarks of the administrator, shall
They forthwith inform the creditor whose claim '
the remark. The same applies, if the value of the property which
creditor has special preferential rights are deemed to be less than the claim.
Law (2008:997).
Creditors ' meeting
section 17 of the creditors ' meeting is to be held under the arrangement the hearing
at the earliest three and at least five weeks after the decision on this.
The debtor should appear in person at the creditors ' meeting.
He shall leave the right, the administrator and the creditors of the
information on the nest that they request. The debtor may not appear
personally, he should ask agents. Have sworn statement requested under section 18,
the debtor must appear in person, unless already
have completed the oath before any other court.
The administrator shall provide a list of the
creditors are entitled to participate in the vote into an issue, with
the amount for which the right to vote may be exercised. In
the list shall also be recorded remarks that have been made against
a creditor's claim.
section 18 at the request of a creditor, the debtor shall, at
Peru – used complete a creditors ' meeting. He shall make
the additions to or changes in the estate inventory that he considers
needed and with ed testify to the estate inventory with added
or changes are real, so that it is not according to his knowledge has
improperly omitted or included any asset or liability.
The debtor is a legal person and has several deputies,
need not be given of such a Peru – used deputies
the sworn statement must be assumed to be irrelevant to the investigation of
the debtor's financial position.
When there is a reason for it, the Court may decide that the debtor
shall take the oath before any other court. The debtor is sick,
get eden completions where he is staying.
The debtor refuses to take the oath, due in order for
composition proceedings, unless there are serious reasons for that
composition the hearing shall be continued.
19 § If both the creditor and the guarantor or any other person who
In addition to the debtor is responsible for the creditor's claim would vote for
This, they have a voice, which is calculated after the creditor's
the claim. They cannot reach agreement, the creditor's sentence, unless the
other blows him or set by collateral for
the claim.
section 20 of the creditors at the creditors ' meeting shall vote on
the composition proposal.
A complaint has been made against a claim does not preclude
against the creditor participates with the claim in the vote. Is the end
of the vote depends on whether the claim should be taken into account or not,
at the hearing the Court shall examine the issue and seek to accomplish
a settlement. Those present may, with binding effect for those who have
failure to appear to concede that a note will mature or restricted or
instruct the administrator to enter into conciliation with the creditor. Can
settlement does not meet, the question shall be dealt with in accordance with the provisions
in paragraph 23, for determination of the output.
A settlement concerning the produced note may not be concluded in other
order than specified in the second subparagraph without the consent of all the
the right is dependent on conciliation.
At paragraph applied votes.
paragraph 21 of the judgment debtor shall not withdraw or change the composition proposal without
consent of the right. A claim to this effect shall be filed no later than the
the creditors ' meeting before the vote takes place.
Has the change of composition proposal granted, the examination of
the proposal postponed until further meeting within three weeks. If
the change does not mean that the proposal will be worse for the creditors, may
the trial, however, may be postponed only if there are special reasons.
section 22 of the right in other cases than those referred to in paragraph 21, second paragraph finds
that there are special reasons for delaying the creditors '
examination of the proposal, the Court shall decide on the suspension to
continued meeting in three weeks.
Determination of judicial administration
section 23 Has the composition proposal adopted at the creditors meeting but
There is, according to section 25 of the reason not to define the chord, the
the composition question examined by the Court at a hearing. The same applies,
If at the meeting can not be determined if the proposal is adopted
or rejected by the creditors.
If the matter cannot be examined at a hearing, the Court shall
determine the chord.
Decision into an issue shall be notified within one week of
the hearing, unless a longer time is necessary because of the specific
circumstances.
section 24 Is the outcome of the vote over the proposal depends on the
If the remaining objections are accepted or not and is there in
other reasons to establish the chord, the Court shall first examine
the remarks, or so many of them that the outcome of the vote
will be the same, whether the other remarks are accepted or not.
section 25 of the a chord must not be defined if
1. the case has not been dealt with in the prescribed manner and the error may have
affected the composition the query's output,
2. the chord does not satisfy the conditions laid down in paragraph 2,
3. There are reasonable grounds to assume the debtor secretly
in favour of a creditor in order to influence the composition question or to
any other deception has taken place at the chord or
4. clearly, the chord is to the detriment of the creditors.
Although the first paragraph is not applicable, right after
circumstances refuse to define the chord, if a creditor or
a guarantor or anyone else except the debtor is responsible for
claim disputes the determination because it does not exist
by collateral for the fulfillment of the chord, the chord is to
injury to the creditors or to the chord of any other special
reason should not be permitted.
Refused a declaration as referred to in the first subparagraph 1 and the proposal is not
rejected by the creditors or the decay, the creditors again
examine the composition proposal and a meeting be discontinued for this.
Supervision
section 26 at the request of a creditor whose claim is covered by the chord can
right, if there are reasons for it, shall order the administrator or
any other suitable person to supervise the debtor
fulfil their commitments under the accord. If necessary, it shall also include a
Deputies may be appointed supervisor.
The debtor must give the supervisor the information he requests and
follow the instructions that the supervisor is leaving.
In the case of dismissal of the supervisor shall apply the provisions of
dismissal of the administrator in Chapter 2. the third paragraph of section 11.
Forfeiture of judicial administration
section 27 at the request of a creditor whose claim is covered by the
the chord can explain that the concession through
the arrangement has allowed the debtor has expired, if the
1. the debtor
(a)) has committed fraud against creditors,
b) has been guilty of willful evasion of bankruptcy
or Executive Ordinance, or
c) secretly have favoured any creditor to affect
the composition question's opinion,
2. the debtor breached what is incumbent on him under section 26
second subparagraph, or
3. the debtor otherwise obvious have neglected their
commitments under the accord.
Conciliation is not allowed in a case referred to in the first
paragraph.
Although the concession has been granted the debtor declared
expired, creditors do piecework in the otherwise applicable to
the debtor or against it has gone surety for the chord.
Act (2005:245).
Chapter 4. Other provisions
The handling of the cases of corporate restructuring
(1) unless otherwise provided, the Act (1996:242) if
Court cases for the handling of the Court under this Act.
section 2 of such negotiation referred to in Chapter 3. paragraph 23
shall take place as soon as possible. If the administrator, the debtor
or a creditor does not appear at the hearing, it will not prevent that
the composition question must be examined and determined.
paragraph 3 of the Certificate or letter showing that the person acting as
Deputies or agents representing a creditor is authorized
need be presented only if there are special reasons.
The cost of the corporate reorganisation
section 4 the administrator is entitled to compensation for work and for the
expenses which the Mission has requested. The fee cannot be determined until a
higher amount than that with regard to the work of the Mission has
required, the care and skill with which it has been carried out, and
business scope can be considered as reasonable compensation
for the mission.
Be presented by the right to compensation shall, at the request of the
the administrator or the debtor, be tried by the Court. As long as a
chords not completed, also any creditor whose claim is covered by the
the chord may request a
such an examination.
§ 5 in the case of the compensation of a supervisor is applied
the provisions of paragraph 4.
section 6 of the costs of the proceedings at law as well as the employee benefits
referred to in paragraphs 4 and 5 shall be payable by the debtor.
Corporate rekonstruktionens cessation
section 7 Right to decide that the corporate reorganisation shall cease,
If
1. such actions were taken that the purpose of the corporate reorganisation
can be considered to be achieved,
2. the debtor requests and decisions if composition proceedings have not been
granted,
3. the debtor without cooking the maturity fail it
creditors ' meeting referred to in Chapter 2. section 10, second paragraph,
4. the administrator or a creditor requests it and the purpose of
corporate reorganisation is not likely to be achieved, or
5. otherwise, there is a particular reason for that
corporate reorganisation should cease.
If the debtor goes bankrupt, ceases business reconstruction.
section 8 otherwise than as referred to in section 7, the right, after three months
elapsed from the date of the decision regarding reorganisation, decide
to the corporate reorganisation shall cease.
If there are special reasons, right, at the request of
the debtor within the time specified in the first subparagraph, acknowledge that
corporate reorganisation may last for no more than three
months. If there are serious reasons, right under the corresponding
prerequisite extend the time by no more than three months in
one at a time. The reorganisation should not last longer
than a total of one year, unless the composition proceedings has been decided.
section 9 Before the Court makes a decision under paragraph 7(1) or section 8
the second paragraph, the obligor, the administrator and the creditors who
presented themselves to the creditors ' meeting referred to in Chapter 2. section 10 other
subparagraph shall be granted an opportunity to be heard If a creditors ' Committee has
State, even those that are included in this opportunity to be heard.
Appeal, etc.
paragraph 10 of the decision concerning the reorganisation and if composition proceedings as well as
decision to the corporate reorganisation shall cease to be applied
immediately, unless otherwise determined by law. The same applies to the decision
to appoint or remove "Administrator".
section 11 of the decision of the Court under this Act may be appealed to this
does not apply to decisions on an issue referred to in Chapter 3. paragraph 21 of the first
paragraph or section 24, or in respect of such new trial referred to in 3
Cape. section 25 of the third paragraph.
In the case of decisions on the composition proceedings counts time from the
date on which the notice of decision was published in Gazette
Newspapers.
Damages
section 12 If a creditor's petition for reorganisation not awarded
and if the creditor when he submitted his application lacked reasonable grounds
assume that the debtor had such payment difficulties referred to in 2
Cape. section 6, first paragraph, the creditor, the debtor shall pay the
injury that may reasonably be regarded as having caused it by the application and
its processing.
Action for damages referred to in the first subparagraph shall be brought before the
District Court where the matter if corporate restructuring is or has been
pending.
Punishment etc.
section 13 a creditor for his voice at a creditors ' meeting
According to Chapter 3. have conditioned themselves to any particular benefit of the debtor
shall be liable to a fine or imprisonment of up to one year.
section 14 of the criminal proceedings against a debtor for offences against creditors and charges against a
creditor for the offence referred to in section 13 may be brought in the District Court where the
the case of reorganisation proceedings is or was pending.
Transitional provisions
1996:764
1. this law shall enter into force on 1 september 1996, when the composition law
(1970:847) shall cease to apply.
2. Once the trustee has been appointed pursuant to the arrangement Act (1970:847) before
entry into force, the composition law in place of the present law.
2003:549
1. this law shall enter into force on 1 January 2004.
2. in the case of a corporate restructuring that has been decided on
as a result of an application made before the entry into force is applied
older provisions.
2008:997
1. this law shall enter into force on 1 January 2009.
2. in the case of an enterprise mortgage under the repealed Act
(2003:528) corporate mortgage apply older provisions.
2010:1967
1. this law shall enter into force on 1 april 2011.
2. Older provisions apply where a decision on notification in accordance with
15-17 sections of Service Act (1970:428) has been taken before 1
April 2011 or if the document has been sent or submitted before
This time.
2011:730
1. this law shall enter into force on 30 June 2011.
2. in the event of corporate restructuring that has been decided before
entry into force for older provisions.
