Firms To Watch: Insolvency

Finance boutique RE:FI STHLM was established in early 2024 by well-regarded practitioners Johan Lundberg and Svante Hultqvist; the pair were previously at Advokatfirman Cederquist KB.

Insolvency in Sweden

Cirio Advokatbyrå AB

Cirio Advokatbyrå AB handles a broad spectrum of insolvency-related matters, including financial workouts, refinancings of distressed debt, and solvent and insolvent liquidations. Lars-Henrik Andersson, who has over 30 years’ restructuring and insolvency experience, leads the team alongside Pierre Pettersson, who regularly advises both debtors and creditors on distressed debt and cross-border insolvency issues. Karl Björlin is often appointed by courts as a receiver in insolvency and restructuring proceedings, while Odd Swartling specialises in financial crises and formal restructurings.

Responsables de la pratique:

Lars-Henrik Andersson; Pierre Pettersson


Autres avocats clés:

Karl Björlin; Odd Swartling


Les références

‘Cirio is a team player and offers great leadership, including in tricky cases. This team is very highly qualified.’

‘Lars-Henrik Andersson is very experienced and likable, with a strong commercial understanding. He has a goal-oriented and no-nonsense approach.’

‘Both Pierre Pettersson and Karl Björlin are easy to work with and straightforward in their communication.’

Principaux clients

Hisingens Industri & Skeppsservice AB and Ferm & Persson AB


RiVe Juridiska Byrå AB and AB C&P (formerly Compexia)


Petroswede Europe AB/Svenska Petroluem AB


BIG Travel Sweden AB (and Reseshopen i Norden AB)


Innovation Properties Sverige AB and Innovation Properties Holding 9 AB


Sushi Yama AB and Sushi centralen AB


Libro Stålteknik AB and Blixthuset Stålhallar AB


Inzile AB


Scotch & Soda Sweden AB


Nordic Netstores AB


Principaux dossiers


  • Acted as administrator in Swedish PE-owned sushi restaurant chain Sushi Yama’s restructuring under the new Restructuring Act.
  • Appointed as official receiver in bankruptcy for Scotch & Soda Sweden AB as a part of an international work-out/restructuring of the international Scotch & Soda clothing retailer group.
  • Appointed as official receiver in several ongoing bankruptcies of Swedish steel construction companies – Libro Stålteknik AB and Blixthuset Stålhallar AB.

CMS Wistrand

CMS Wistrand’s insolvency group handles traditional insolvency work, regularly acting as court-appointed trustees, as well as debt restructuring work for banks and corporations. The team is well known for its expertise in insurance-related bankruptcies and liquidations as well as for acting in contentious bankruptcy cases generally. Fredrik Thor, who regularly acts as bankruptcy trustee, administrator in company reorganisations and liquidator, leads the Stockholm-based team, which focuses on matters in the financial services, insurance, IT and real estate spaces. With considerable creditor and debtor-side experience, Jörgen CMS Wistrand heads up the Gothenburg team, which is especially active in the manufacturing and auto sectors. Christian Bergqvist‘s extensive experience includes handling international Chapter 11 cases. Anders Nilsson is a key contact, recently advising on several complex bankruptcies in a variety of sectors, while specialist counsel Nina Baecklund handles insolvencies.

Responsables de la pratique:

Fredrik Thor; Jörgen Wistrand


Autres avocats clés:

Anders Nilsson; Christian Bergqvist; Tove Rosén Johansson; Niklas Körling; Nina Baecklund


Les références

‘A very experienced team with in-depth expertise in insolvency litigation.’

‘Anders Nilsson is one of the most brilliant insolvency lawyers in the Swedish market. He is calm, easy to work with and has in-depth knowledge when it comes to insolvency-related litigation.’

‘Fredrik Thor has broad expert knowledge and applies a very pragmatic and commercial approach to insolvency advice.’

Principaux clients

Detur Group


Kungsörs Hem AB


Quinn Investments Sweden AB


Gigstr AB in bankruptcy


Aros Bygg & Förvaltning AB


Hungry Kitchens Sweden AB


Future Dining AB


SPEDAB AB


Maderna Fonder AB


Society Icon AB


Food For Progress Group


Spacem2 For Smart Living AB


Principaux dossiers


  • Advising Maderna Fonder AB in relation to security and tailored finance documentation.
  • Appointed as bankruptcy trustee to Kungsörs Hem AB, a real estate company with rental housing properties located in Kungsör, Sweden.
  • Represented Food For Progress Group in bankruptcy proceedings.

DLA Piper Sweden

DLA Piper Sweden’s restructuring and insolvency team focuses on cross-border matters, including a high volume of financial restructurings across the Nordic region in the real estate, energy and infrastructure sectors. The group has notable experience handling restructurings and wind-ups of bond structures. Practice head Jonas Premfors has considerable experience acting as an administrator in bankruptcy estates as well as advising on high-level company reorganisations. Erik Selander, who advises banks on a wide range of insolvency-related matters, oversees the firm’s Nordic restructuring group. Joakim Hedström is often appointed as an administrator in bankruptcy proceedings in Swedish district courts, while senior associate Sandra Andersson focuses on formal and informal winding-up procedures.

Responsables de la pratique:

Jonas Premfors


Autres avocats clés:

Erik Selander; Joakim Hedström; Sandra Andersson


Les références

‘A competent and experienced team of highly qualified lawyers.’

‘Jonas Premfors is a pragmatic and solution-oriented lawyer providing a high-level service.’ 

‘The firm is big enough to handle large matters.’

Principaux clients

Kaupthing ehf


Aligera Holding including Aligera Wind Group


Componenta Främmestad


Official Committee of Unsecured Creditors of SAS


RE Education


Trinitas Fastigheter group of companies


Bergvik Skog


Rushrail


It’s Re:leased AB


S-bolagen/Minoritetsintressen


Azelio AB


Principaux dossiers


  • Acting as local counsel to the Official Committee of Unsecured Creditors of SAS, the well-established leading Scandinavian airline company, on the legal matters in Sweden, Norway and Denmark in connection with SAS’ Chapter 11 process.
  • Appointed as bankruptcy trustee for the multinational solar energy company Azelio AB, which has developed a sustainable way of storing renewable energy.
  • Acted as administrator in the bankruptcy of Componenta Främmestad AB.

Gernandt & Danielsson Advokatbyrå

Gernandt & Danielsson Advokatbyrå’s restructuring and insolvency practice focuses on high-end work, including cross-border contentious matters involving multi-layered capital structures. With a dedicated debt capital markets restructuring team, aided by experienced finance lawyers, the group is well known for its expertise handling distressed DCM transactions, particularly for bondholders. Björn Svensson and Sofie Viktorsson jointly lead on the debt/equity restructuring side, while Mikael Borg heads up the DCM restructuring department alongside Caroline Jägenstedt Wikman. Mikael Bolling plays a key role in the team, leveraging his expertise in high-yield bonds as well as leveraged, structured, and asset financings to advise on restructuring mandates.

Responsables de la pratique:

Björn Svensson; Sofie Viktorsson; Mikael Borg; Caroline Jägenstedt Wikman


Autres avocats clés:

Mikael Bolling


Les références

‘Mikael Borgs’ experience and expertise is invaluable.’

‘The team offers a very good combinations of skills, experience and expertise to give optimal guidance in difficult legal terrain.’

Principaux clients

Municipality of Nyköping


Intertrust (Sweden) AB


YA Holding AB


Nynas


SEM


Seamless


Svenska Nyttobostäder


Fingerprints


Principaux dossiers


  • Represented the municipality of Nyköping in issuing a guarantee related to the obligations of Stockholm Skavsta Flygplats AB (Stockholm South Airport) under a term loan.
  • Representing Intertrust (Sweden) AB and the noteholders’ committee for the SEK1.6bn hybrid capital securities in the ongoing Chapter 11 proceedings of SAS AB.
  • Advising YA Holding AB, a Swedish-based education company that offers training in various fields such as transport, business, industry, and service, in relation to liquidity shortages.

Mannheimer Swartling

Mannheimer Swartling’s multidisciplinary restructuring and insolvency practice, led by Daniel Karlsson in Stockholm alongside Gothenburg-based Christoffer Monell, has considerable combined experience handling a wide range of matters, including out-of-court restructurings and workouts, preventative planning issues, distressed acquisitions and cross-border reorganisations. Karlsson has experience advising lenders, borrowers, arrangers, issuers and other stakeholders in domestic and cross-border restructurings, while Monell specialises in representing creditors and owners in relation to formal bankruptcy proceedings. Andreas Zettergren has over 15 years’ experience in the field.

Responsables de la pratique:

Daniel Karlsson; Christoffer Monell


Autres avocats clés:

Andreas Zettergren


Les références

‘This team is very competent, offering top-quality, tailored and commercial advice, typically delivered extremely quickly.’

‘Andreas Zettergren is a steady hand.’

‘Andreas Zettergren and Christoffer Monell are both very impressive lawyers combining industry experience in the energy sector with the an understanding of Swedish insolvency laws, including the new restructuring law.’

Principaux clients

Trafikverket (Swedish Transport Administration)


Apikal Fastighetspartner AB and Apikal Fastighetspartner II AB


SAS AB / Scandinavian Airlines System Denmark-Norway-Sweden


Principaux dossiers


  • Advised SAS in connection with its Chapter 11 and restructuring cases.
  • Advised Trafikverket (Swedish Transport Administration) in connection with the restructuring of one its larger contractors.
  • Advised a real estate finance company on the bankruptcy proceedings of one its debtors (including proof of claim proceedings).

Advokatfirman Vinge

Advokatfirman Vinge’s restructuring and insolvency practice has a strong presence across the country, with Albert Wållgren in Stockholm, Morgan Hallén in Gothenburg, and Henrik Ossborn in both Malmö and Helsingborg jointly leading the team, which is particularly strong in insolvency-related litigation and arbitration proceedings. Hallén has considerable experience acting as bankruptcy trustee and in winding up procedures and liquidations. Fabian Ekeblad’s broad practice covers compulsory liquidations, bond and loan restructurings, and complex deals with a restructuring element. Anna Palmérus in Gothenburg also plays a key role in the team, specialising in cross-border bankruptcy proceedings.

Responsables de la pratique:

Albert Wållgren; Morgan Hallén; Henrik Ossborn


Autres avocats clés:

Anna Palmérus; Fabian Ekeblad


Les références

‘Morgan Hallén and his team are fantastic to collaborate with. They are experienced, work quickly and with the kind of business sense that is needed to make good things great.’

‘Morgan Hallén is the key person in this team.’

Principaux clients

Invacare Corporation


Principaux dossiers


  • Advised Invacare Corporation and the Swedish management of the Swedish subsidiaries in relation to the impact of the opening of Chapter 11 Bankruptcy proceedings with respect to the US parent company.

Advokatfirman Fylgia KB

Advokatfirman Fylgia KB’s insolvency and restructuring practice has considerable experience handling domestic and international matters, including actions for recovery and disputes concerning liability of payments. The team is particularly strong in the aviation and medtech sectors. With nearly two decades of experience in the field, including as a bankruptcy administrator, Jakob Callmander leads the group; he has recently advised several creditors in relation to defaults, the acceleration of bonds and the enforcement of pledges. Mathias Winge offers considerable expertise in cross-border matters, both in and out of court, to secured and unsecured creditors; he also specialises in assisting overseas clients with the liquidation of Swedish subsidiaries.

Responsables de la pratique:

Jakob Callmander


Autres avocats clés:

Mathias Winge; Thomas Ehrner


Les références

‘This is a large and experienced team, well known to the market. They are mostly active in domestic and local cases.’

‘Mathias Winge has a strong commercial sense and always tries to find a solution.’

‘Jakob Callmander is easy to work with and pragmatic.’

Principaux clients

Scandinavian Credit Fund I AB


Intertrust AB (Sweden)


Fudd Finans AB


Finserve Nordic AB


Principaux dossiers


  • Appointed official receiver to Campadre Scandinavia AB, an online dealership for consumer goods.
  • Appointed official receiver to Best of Brands Scandinavia AB, an online retail dealership for high-end fashion.

Roschier

Roschier’s finance and restructuring team handles a wide range of restructuring and insolvency-related matters, specialising in out-of-court restructurings and distressed debt trading. The team has a strong reputation for handling debt restructurings across all debt tranches as well as for advising bond-financed companies in relation to bond restructurings. Practice head Johan Häger leverages his expertise in LBO financings and high-yield bonds to advise on cross-border restructurings and reorganisations. Senior adviser Carl Brodén boasts extensive restructuring and insolvency experience.

Responsables de la pratique:

Johan Häger


Autres avocats clés:

Carl Brodén; Harem Mahir


Les références

‘The team has a creative approach and offers smart solutions in out-of-court restructurings.’

‘Carl Brodén and Harem Mahir are smart and creative. Roschier has a good senior team when it comes to restructurings.’

‘Johan Häger is one of the most professional insolvency lawyers around.’

Principaux clients

Cyrus Capital Partners Europe LLP


Davidson Kempner European Partners


Danske Bank


Houlihan Lokey


Intertrust


JOOL Markets AS


Nordic Trustee & Agency AB


SATO


Ziton AS


Principaux dossiers


  • Advising the trustee for the bondholders and an ad hoc bondholder committee regarding the bankruptcy of Lauritz.com, a Danish auction company with shares listed in Sweden and which has issued bonds under Swedish law.
  • Advised an ad hoc bondholder committee and the trustee regarding the financial restructuring of bonds issued by Swedish Electromagnet Invest AB.
  • Advised Ziton A/S, active in the offshore windfarm service industry, regarding its financial restructuring, involving amendments of the terms for its different bond financings and a change of majority ownership.

Advokatfirman Schjødt

With notable experience acting as receiver in bankruptcy proceedings as well as in out-of-court restructurings, Emma Berglund Uväng leads Advokatfirman Schjødt‘s restructuring and insolvency team. Hans Renman has over 30 years’ experience advising insolvency practitioners, auditors, commercial lawyers, banks, and other professionals on a wide range of matters and is regularly involved in domestic and cross-border insolvency-related litigation. Johan Hörnberg is regularly instructed by financially distressed companies, creditors, and debtors. Lars Eric Gustafsson left the firm in March 2023 to start his own firm, while Hedvig Mårstad joined Lindskog Malmström Advokatbyrå in September of the same year.

Responsables de la pratique:

Emma Berglund Uväng


Autres avocats clés:

Christofer Hemsedahl; Johan Hörnberg; Johan Linder; Hans Renman


Les références

‘The team is dedicated to its task, highly professional, and proficient in communication.’

‘Hans Renman and Emma Berglund Uväng both have long experience in insolvency matters which shows in their work. They are practical and find solutions.’

‘Johan Linder always quickly gives good and correct advice.’ 

Principaux clients

Memmo Family AB


Airinum AB


Gotoga Group (Hope Stockholm AB and affiliated companies & Whyred AB and affiliated companies)


Goyada Aktiebolag


Adelsö Entreprenad & Transport AB


Constrera AB


Sea Life Group (Sea Life AB)


MI Andersson Fastighetsbolag AB


Applied Nano Surfaces Sweden AB


Metro Media House AB and Tidnings AB Metro


Hotell Norrtull i Vasastan AB


Box Play Alleato AB


Smart Living Group


Stureplans Tandläkarpraktik AB and affiliated legal person


Mälardalen projektering och entreprenad AB and affiliated companies


Scotch & Soda BV


Principaux dossiers


  • Appointed as official receiver in the bankruptcy of Adelsö Entreprenad & Transport AB, a construction company working primarily in infrastructure projects.
  • Advised Goyada Aktiebolag CashCom i Sverige AB and affiliated companies in relation to their bankruptcy filings.
  • Appointed as official receiver in bankruptcy of Gotoga Group (Hope Stockholm AB, Whyred AB and affiliated companies).

White & Case Advokat AB

White & Case Advokat AB’s debt finance team assists domestic and international clients with a range of restructuring, workout and insolvency matters in Sweden, with particular strength in bond restructurings. Carl Hugo Parment, who has experience in formal and informal insolvency proceedings, the enforcement of security interests, and workouts of private equity-owned companies, leads the team alongside Magnus Wennerhorn, who specialises in bond restructurings. Debt capital markets expert Michael Bark-Jones handles liability management and debt restructuring mandates.

Responsables de la pratique:

Carl Hugo Parment; Magnus Wennerhorn


Autres avocats clés:

Michael Bark-Jones


Principaux clients

GLAS Trustees Limited


Goldman Sachs


Nordic City Properties AB


Microsoft Ireland Operations


Quant AB


Isadora Group


Principaux dossiers


  • Represented GLAS Trustees Limited, a global independent provider of debt administration services, in connection with multiple bankruptcy proceedings in Sweden, including review of court documents and contacts with the administrator.
  • Advised Nordic City Properties AB on its financial restructuring.
  • Represented J. Aron & Company LLC, an affiliate of Goldman Sachs, on its entry into an oil inventory monetisation arrangement with Nynas.

Advokatfirman Cederquist KB

Advokatfirman Cederquist KB’s insolvency and restructuring team handles a wide range of matters, including complex workouts and restructurings. The department also often works closely with lawyers in the firm’s other departments, namely the banking, capital markets, and M&A teams, to advise on distressed transactions. Per Henriksson and Berndt Pettersson are the key contacts following the departures of Johan Lundberg and Svante Hultqvist in early 2024.

Autres avocats clés:

Per Henriksson; Berndt Pettersson


Principaux clients

Nordea Bank Abp, filial i Sverige


European Investment Bank (EIB)


Skandinaviska Enskilda Banken AB


Swedbank AB


DNB Bank ASA, filial Sverige


Deutsche Bank


Hannes Snellman (Sweden)

Hannes Snellman (Sweden)’s finance and restructuring team, working closely with the firm’s M&A, tax, IP and disputes departments, handles a variety of domestic and cross-border restructuring and insolvency matters. Managing partner and practice head Fredrik Olsson specialises in private equity-related restructurings and has notable experience in the restaurant industry. Ola Åhman advises companies, creditors and suppliers in relation to insolvency proceedings and distressed situations, while newly promoted partner Carolina Wahlby has expertise in food, entertainment and hotel sector restructurings.

Responsables de la pratique:

Fredrik Olsson


Autres avocats clés:

Ola Åhman; Carolina Wahlby


Setterwalls

Setterwalls’ restructuring and insolvency practice handles a range of debt restructuring matters, including loan restructurings, out-of-court refinancings, and distressed debt trading work. The team has notable combined experience representing lenders and syndicated lending groups, corporate debtors, private equity sponsors, distressed asset purchasers, and other interested parties. Mikael Magnusson in Stockholm leads the group along with Kenneth Nilsson and Christian Andersch, both in Gothenburg; Andersch is regularly appointed as receiver in bankruptcies.

Responsables de la pratique:

Mikael Magnusson; Christian Andersch; Kenneth Nilsson


Les références

‘The team is easy to collaborate with.’

‘Christian Andersch is a very experienced insolvency lawyer with high integrity.’

‘They have expertise in all areas needed in an insolvency case.’

Principaux clients

Luftbehandlingskonstruktioner A&A AB


IV Väst AB


CraftCo. Sweden AB


Alberts Städservice AB


Alberts Personal AB


Kohool AB


Hotell Fars Hatt HFH AB


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