Nynas AB company reorganisation

Here we gather information regarding the Nynas AB company reorganisation.

Latest news

Nynas reorganisation completed

Today, the decision to adopt Nynas composition from 30 November 2020 became final in Södertörn District Court. This means that Nynas company reorganisation is formally completed and that Nynas creditors will be paid in accordance with the composition agreement.

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Nynas reorganisation formally expected to be completed in January 2021

The district court's decision of 30 November to confirm the composition in Nynas AB's corporate reorganisation has been appealed by the Swedish Tax Agency on 21 December. Extraordinary reasons have since been applied based on approval of the administrators as of 22 December 2020 and Nynas has today paid in full to the Swedish Tax Agency and thus the Swedish Tax Agency no longer has any claim.

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Nynas successfully exits reorganisation

The District Court of Södertörn today decided that the Nynas company reorganisation is now complete, following a creditors meeting where the previously submitted composition proposal was accepted.

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Creditors meeting on 30 November

A creditors meeting on the composition proposal previously submitted by Nynas AB will take place on 30 November 13.00 at the District Court of Södertörn.

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Formal exit from Nynas reorganisation initiated

A composition proposal as well as an administrators’ report have today been distributed to the creditors, by Nynas AB and the administrators.

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Approved extension of Nynas reorganisation

Södertörn's District Court today approved an extension of Nynas AB’s company reorganisation for another three months, until December 15, 2020.

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Ownership change in Nynas

Neste announced today that it has sold its entire shareholding in Nynas to Bitumina, a global bitumen company active in more than 100 countries. This is an important step in the ongoing company reorganisation of Nynas.

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Nynas applies for reorganisation extension - good progress, time to conclude needed

Nynas AB has today applied at Södertörn's District Court for an extension of the company reorganisation for an additional three months. The Administrators fully support and endorse an extension of the reorganisation. A decision from the District Court is expected to be announced on September 17.

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Approved extension of Nynas reorganisation

Södertörn's District Court today approved an extension of Nynas AB’s company reorganisation for another three months, until September 15, 2020.

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Nynas applies for reorganisation extension

Nynas AB has today applied at Södertörn's District Court for an extension of the company reorganisation for another three months. The Administrators approve that the reorganisation shall continue. A decision from the District Court is expected to be announced in the week beginning June 15.

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Nynas exits US sanctions

The US Treasury Department’s Office of Foreign Asset Control (OFAC) announced today that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB sanctions are lifted, and US persons and companies no longer require an authorization from OFAC to engage in transactions or activities with Nynas AB. As a consequence, general license GL 13E is removed.

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Nynas general license extended

The general license, that permits companies to continue to trade with Nynas without breaching US sanctions, has been extended to allow time to finalise the process to lift the sanctions on Nynas.

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Extension of Nynas reorganisation approved

Södertörn's District Court today approved an extension of Nynas company reorganisation for another three months, until June 15. The reorganisation process will now continue with a focus on actions for removal of US sanctions applicable to the company and to finalise the long-term funding.

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Nynas applies for extended reorganisation

OFAC ready to initiate process for removal of sanctions applicable to Nynas

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