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Chapter 1 Section 1 The purpose of this Act is to eliminate and counteract obstacles to effective competition as regards the production of and trade in goods, services and other products. The Bankruptcy Act (1987:672) defines insolvency as a situation where the debtor is not able to duly pay his debts, and this inability is not of a temporary nature. Both natural and legal persons who are insolvent can be declared bankrupt. Bankruptcy Act (120/2004; konkurssilaki) Chapter 1 — General provisions Section 1 — Bankruptcy (1) A debtor who cannot repay his or her debts can be declared bankrupt in accordance with the provisions of this Act. The court shall make the order of bankruptcy on the petition of the debtor or a creditor. Vesting of property upon bankruptcy--general rule 58A.
The Act does not apply to purchases of Swedish State premium bond loans or bets on the future value of financial activities. Additionally, the Act does not apply to gambling machines that are subject to the Act (1982:636) concerning the arrangement of certain forms of gaming machines. Swedish acts are passed by Parliament and ordinances are passed by the Government. In addition to EU Directives there are also EU Regulations, which are directly binding once they have been adopted by the EU Parliament and the European Council. EU Regulations therefore apply in the same manner as Swedish acts. The Swedish Enforcement Authority has a range of responsibilities, including enforcement, debt collection and injunctions to pay, and assistance, debt relief and supervision in bankruptcy. Bankruptcy Act (with its variations) is a stock short title used for legislation in Australia, Hong Kong, Malaysia, the Republic of Ireland, the United Kingdom and the United States relating to bankruptcy.
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can neither encounter liquidity problems nor enter bankruptcy. In BiR, the bank's special provisions in RIX act as a sort of guarantee for the commercial agreements, liability issues according to the Swedish Companies Act (Sw.
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konkurslag 1987:672); The main Swedish laws relating to insolvency are: the Company Reorganisation Act (SFS 1996:764); the Bankruptcy Act (SFS 1987:672); the Rights of Priority Act (SFS 1970:979); The Swedish Bankruptcy Act (1987:972) (Konkurslagen) provides that certain transactions can be made subject to claw-back and can be recovered by the bankruptcy estate. There are different circumstances that may give rise to such recovery. It follows from the law that certain creditors’ claims are prioritised.
of Chapter 2, Sections 7-9 of the Swedish Bankruptcy Act
bankruptcy - Engelsk-svensk ordbok - WordReference.com. bankruptcy.
More detailed regulations about bankruptcy can be found in the Bankruptcy Act. Wage Guarantee Act (1992:497) Amendments: up to and including SFS 2010:1253 Introductory provisions Section 1 The State is liable under this Act for the payment of an employee’s claim (State wage guarantee) against an employer who 1.
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found in Sellin, Marriage and Divorce Legislation in Sweden (Doctoral Thesis, Univ.
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of Chapter 2, Sections 7-9 of the Swedish Bankruptcy Act bankruptcy - Engelsk-svensk ordbok - WordReference.com. bankruptcy.
SWEDISH BANKRUPTCY ACT - Uppsatser.se
Notes : Bankruptcy proceedings are probably the most commonly used vehicle for reorganization of a business in Sweden. The bankruptcy proceedings are governed by the Bankruptcy Act 1987. In bankruptcy proceedings, the court appoints a receiver to wind up the company. Bankruptcy Act, 1914. [4 & 5 GEO. 5.] A.D. 1914.
21. Power to accept composition or scheme after bankruptcy adjudication.