Refine your search

51 results found

Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 18 May 2018

New information requirements for bond prospectuses and other financial instruments

The past two years have seen corporate bonds emerge as a natural alternative to bank loans on the Swedish financial market. While traditional bank loans remain the first-choice financial solution for most corporations, demand for bonds has grown significantly over the past decade. Recently introduced national and European regulations have set out new information requirements for existing and......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 22 Dec 2017

Financial Supervisory Authority continues efforts to reduce household debts

The Financial Supervisory Authority recently agreed on more stringent amortisation requirements for home mortgages. The debt burden on Swedish households has long been a concern for regulators, and the authority is now taking an activist approach in an effort to mitigate the risk of a widespread crisis in case of a downturn in the housing market.
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 15 Dec 2017

Supreme Court decides on enforceability of electronic promissory notes

A case regarding the enforceability of an electronic promissory note was recently decided by the Supreme Court. The court investigated whether the relevant electronic loan document was to be viewed as a non-negotiable or negotiable instrument, and settled that it was indeed a non-negotiable promissory note. This meant that the requirement to present an original document to the Enforcement......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 15 Dec 2017

Knowledge of counterparty's insolvency in claw-back case

A bankruptcy estate may take action for the claw back of transactions that have been carried out in relation to a certain creditor before the initiation of bankruptcy proceedings, if such transactions have been adverse to the interests of other creditors. Certain transactions can be reversed during a five-year hardening period if the relevant creditor knew, or should have known, that the......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 22 May 2017

Reversed burden of proof when appellate court rules on alleged loan

According to case law, a party is entitled to reclaim transfers of funds if it is undisputed that the transfer has occurred and the transferee has failed to provide sufficient evidence that he or she is entitled to keep the funds. This general rule was recently disputed in a case regarding several transfers of funds from one business partner to another acting in a joint development project.
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 17 Mar 2017

Joint and several liability between debtors and effect of creditor's actions

The Supreme Court recently clarified how to interpret joint and several liability when the creditor settles with one of the debtors and simultaneously releases that party from any future claims. The court concluded that the foundation of a joint and several liability between debtors is that the debtor that repays more than its pro rata share of a loan has a right to recover and claim the......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | European Union, Sweden | 9 Dec 2016

'Sufficient information' in creditworthiness assessment for consumer credits

Consumer credit may be granted only after the creditor has assessed the consumer's creditworthiness. The assessment must be based on sufficient information, as stipulated in the EU Credit Directive and the Consumer Credit Act. However, neither the directive nor the act defines 'sufficient information'. In a recent Administrative Court case, the Consumer Agency argued that a creditworthiness......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | European Union, Sweden | 26 Aug 2016

Update on new legislation

The government recently issued directives for a commission of inquiry to analyse the market for crowdfunding and peer-to-peer lending. As Sweden has yet to introduce regulations that explicitly address crowdfunding platforms or peer-to-peer lending, the directives contain instructions to consider which laws apply to the different forms of crowdfunding and whether new legislation and penalties......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 20 May 2016

New legislation proposed to facilitate cross-border debt recovery in civil and commercial matters

The EU regulation enabling the new European account preservation order procedure – a single mechanism under which creditors can freeze all of a debtor's bank accounts in all participating member states – will apply from January 2017. To facilitate its application, procedural rules have been developed that designate the Swedish Enforcement Authority as responsible for obtaining the relevant......
Commentary
Ask Lexy

Advokatfirman Törngren Magnell KB | Sweden | 26 Feb 2016

New rules on crisis management for credit institutions

Sweden has now implemented the EU Bank Recovery and Resolution Directive into law, mainly through the Act on Resolution and the Act on Prevention of State Aid to Credit Institutions. To comply with the Act on Resolution, Swedish financial institutions must ensure that a correctly drafted bail-in recognition clause is included in their agreements where any liabilities are governed by......
Previous page 1 2 3 4 5 6