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'Devastating for the Swedish economy and business'

‘Devastating for the Swedish economy and business’

Many fear words such as bankruptcy and reconstruction. Ackordscentralen does not do this, but instead operates in a systematic and safe manner, free from the interests of the co-owners, in order to rescue small and large businesses with payment or profitability problems from early-stage bankruptcy. Ackordscentralen restructures companies and has the confidence of courts, authorities, lenders and suppliers.

Ackordscentralen was born out of the womb of merchants’ unions, which in the mid-19th century organized the Business Group and is one of Sweden’s oldest business organizations. At the beginning of the 20th century, merchant associations decided to create special formation and bankruptcy departments, which in 1929 were known as Ackordscentralen. Accord centers mainly helped members who had profitability issues, but they also helped collect accounts receivable. In addition, a nationwide intelligence service was organized that reported on the creditworthiness of local businessmen and was a forerunner of today’s credit reporting firms.

Much of the practice that developed during the twentieth century in relation to insolvency law was to a greater or lesser extent an initiative of Ackordscentralen, who was a major player in this area of ​​law, not least during the ensuing bankruptcies. Technology and shipbuilding crises, says Peter Offermann, CEO of Ackordscentralen Syd AB.

100 years from the date of the qualified insolvency law

Today, Ackordscentralen is primarily engaged in bankruptcy proceedings but also in rebuilding, liquidation and general business law.

We help companies with payment or profitability issues to rebuild, develop or improve businesses. We often see that a creditor in bankruptcy wants to share Ackordscentralen because they see that the outcome will be better then. Much of our success is explained by our long tradition of providing high-quality advice in insolvency law combined with the resources provided by the Foundation. This means that we can maintain a high level of efficiency without sacrificing quality, says Peter Öfverman.

Objective evaluation before reconstruction

One of Ackordscentralen’s priority areas of activity is to prevent companies from going bankrupt, through various types of reorganization procedures; From formal reorganization decided by the District Court to preliminary negotiations and settlements. With a coherent vision of the entire organization as Stiftelsen Ackordscentralen AC-Gruppen AB, the parent company of the operating subsidiaries Ackordscentralen Stockholm AB, Ackordscentralen Väst AB, Ackordscentralen Syd AB and Ackordscentralen Norrland AB, they have maintained continuity and high efficiency in business.

– We stand with an objective evaluation before reconstruction. Ackordscentralen is a good partner in the sense that we are serious, do not control common ownership interests and do not promise something we cannot keep, which means security for all parties, says Peter Offerman.

Close cooperation with academia and research

Ackordscentralen finances research projects under the Foundation, awards scholarships, publishes a series of publications in the field of insolvency and receives regular education in most Swedish universities, for example, Ackordscentralen Syd cooperates with Lund University.

About Accordscentralen

Since 1857, Ackordscentralen has been helping companies large and small with payment or profitability issues to develop, improve or rebuild their operations.

Ackordscentralen has offices in six locations in Sweden and has 55 employees in the group, consisting of lawyers, economists and paralegals.

Each year, the Ackordscentralift Foundation awards scholarships to university and college students, who have written in a meritorious manner a dissertation on a topic related to our activities.

www.ackordscentralen.se

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