According to the bankruptcy statement submitted to the Stockholm District Court on Tuesday by bankruptcy trustee Jonas Premfors, and reviewed by SVT Nyheter and Dagens Industri (Di), Northvolt Expansion's debts at the time of bankruptcy were significantly higher than initially estimated.
Initially, the company's debts were projected to be around 3 billion kronor. However, the inventory reveals that the actual debt amounts to 6.9 billion kronor.
– This is no ordinary bankruptcy. It is exceptionally large by Swedish standards. You could probably count similar bankruptcies in the past decade on two hands – maybe even one, says bankruptcy trustee Premfors.
The bankruptcy halted all construction projects in Skellefteå. As a result, the company owes approximately 2 billion kronor to construction companies, 2.9 billion kronor to suppliers of process equipment, and 787 million kronor in unpaid logistics invoices.
Additionally, Northvolt Expansion owes 1 billion kronor to its parent company.
The company's assets have dwindled to just under 1.3 billion kronor.