Cross-border Insolvency Agreements – Protocols from a Swedish Perspective

Abstract

In the middle of May 1997 Michael Bogdan published his book Sveriges och EU:s internationella insolvensrätt1, and a few weeks later, UNCITRAL published “The Model Law on Cross-Border Insolvency”.2 These are two events in the area of insolvency law with lasting effect, admittedly with somewhat different magnitude and importance, but still important from a Swedish perspective. They both meant that major steps were taken in the development of an international insolvency regulation. Michael’s book is still relevant in many parts as an accurate statement and discussion of the position of Swedish law in the area of cross-border bankruptcy and insolvency cases, especially regarding questions of Swedish jurisdiction over debtor assets abroad and the effects of foreign insolvency proceedings in Sweden.
The EU finalised its Insolvency Regulation (EIR)3 in 2000, thereby unifying the positions of the Member States on at least some insolvency questions, although this has also produced other, new problems. Still, apart from this initiative, not much has happened in this area of the law from a Swedish perspective, at least on the surface and after just a cursory look. The Swedish legislation is reticent when it comes to international insolvency questions, apart from the EIR and legislation in relation to the other Nordic countries (see below).