The forecast: Northvolt goes bankrupt on October 14

Published 5 October 2024 at 15.01

Economy. Sustainability giant Northvolt must pay 62 million in taxes and fees by October 14, otherwise the board will be responsible for the company's debts. Assessors therefore believe that the board will file for bankruptcy shortly before then.

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The board's regular members Carl-Erik Lagercrantz, Susanna Campbell, Tom Johnstone and Barbara Frei- Spreiter will suffer personal liability if the company does not pay by October 14 at the latest. Otherwise, a restructuring or bankruptcy application must be submitted before then.

– The basic tip is that there will be suspended payments and bankruptcy, says Magnus Henrekson, professor of economics, to Aftonbladet.

Total Northvolt pays 62.1 million to the Tax Agency, of which 28.2 million relates to employer contributions and 33.9 million is deducted tax.

However, Northvolt can also apply for company restructuring and if a court thinks that the company has long-term viability then shall it grant the application. Then the company does not have to pay its debts.

However, the legislation is in practice a fiasco and most companies that are granted restructuring still go bankrupt in the end.

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