Close Up Interview: Christer Almquist
What do you work with at Svensson Nøkleby?
I am a senior lawyer and the sector manager for the insolvency and bankruptcy department, where I assist companies that are in demanding situations, such as restructuring, debt settlement and bankruptcy. I am also regularly appointed as a trustee in bankruptcy at Drammen District Court.
What do you think is the most exciting thing about your job?
It must be that I am so lucky to have a lot of good people around me who constantly challenge and develop me as a lawyer. I am also lucky to have a profession that allows me to contribute to securing values for companies and creditors, and that I can contribute to good solutions for companies in a demanding situation.
Do you have any good advice for companies that are struggling financially right now?
Review important and costly contracts, and explore the possibility of renegotiation. Keep your accounts in order so that you have a good management tool. Evaluate the number of assignments and the need for employees. Investigate the possibility of raising capital.
Can you briefly explain the purpose of the Temporary Reconstruction Act?
The outbreak of covid-19 accelerated work on new rules on debt negotiation and reorganization which resulted in a temporary law on reorganization which was adopted in May 2020. The background for the law was to establish an effective tool to prevent unnecessary bankruptcies in companies as otherwise under normal circumstances were profitable. The law is not widely used in that it is relatively expensive to initiate a reconstruction through the court. The positive thing is that for small companies there are simplified case processing rules that can help cut the costs of a reconstruction. This contributes to the fact that reconstruction can now also be an alternative for small and medium-sized companies.
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