| Form A | An application form that must be completed and submitted to the trustee by e-mail for outstanding salary and holiday pay. All forms received are forwarded by the trustee to NAV Lønnsgaranti. |
| Abandonment | Cancellation of the bankruptcy estate's seizure of an object that is not considered to have economic value for the estate. Either because the object has a low value or because the pledge on the object exceeds its value. |
| Assets | Assets, either physical or non-physical, that have value. |
| Ordinary receivables / Non-prioritised receivables | All unsecured invoice claims or other similar unsecured claims against a debtor who has gone bankrupt. The majority of claims in a bankruptcy estate have this priority. |
| Estate administration / bankruptcy proceedings | When bankruptcy is opened, the work in the bankruptcy is referred to as an estate administration or bankruptcy proceedings. |
| The estate's right of seizure | The trustee takes over the debtor's right of disposal over all assets belonging to the bankruptcy debtor at this time. |
| Housing manager | A lawyer appointed by the district court at the bankruptcy hearing. The trustee's role is to safeguard the common interests of the creditor community, as well as to safeguard affected employees and special social interests. The trustee is responsible for carrying out the estate administration. |
| Housing Board | The board of directors consists of the trustee and the creditors' committee. The function of the board of trustees is that the trustee shall, as far as possible, reach a decision together with the creditors' committee on significant issues. |
| Debtor | The person who owes someone money/other valuables. |
| Dividend | The profit from the estate administration that is distributed at the conclusion of the estate. |
| Claim registration | Submission of a creditor's claim against the bankrupt. Claim notification is sent to the trustee by e-mail. |
| Receivables due date | Deadline for creditors to file a notice of claim. The deadline is set by the district court and should be between 3-6 weeks after the bankruptcy is opened. |
| List of receivables | All claims filed in a bankruptcy estate are registered and constitute a list of claims. The list shows who the creditor is, the amount of the claim and the priority of the claim. |
| Simplified orientation | A document that the trustee prepares for the district court. It should briefly describe what has happened so far in the estate administration and what remains to be done. It is sent to the district court every three months. The document is not public and is not sent to creditors. |
| Deadline day | The day a bankruptcy petition from the petitioner (a creditor) was received by the district court. Alternatively, the day the petition for a winding-up was submitted by the company's board of directors to the district court. Separate rules for compulsory dissolutions and compulsory liquidations. |
| Illiquid | Not having funds to cover all current debt obligations until maturity. |
| Insolvency | The value of the debtor's liabilities exceeds the value of its assets, and the debtor is no longer able to fulfil its current obligations. Provided that the payment problems are not of a temporary nature. |
| Insufficiencies | The debtor's liabilities exceed the value of its assets. |
| Bankruptcy debtor | A company or private individual that is undergoing bankruptcy proceedings. |
| Bankruptcy opening | The day the district court decides that bankruptcy should be opened. Bankruptcy is opened on the basis of a submitted bankruptcy petition. |
| Bankruptcy opening order | Order from the district court that bankruptcy has been opened. Contains information about the basis for the opening, who has been appointed as trustee and the date of the probate meeting. |
| Creditor | Anyone who has a claim to money/value against another. |
| Creditors committee member / Creditors committee | A personal position where a representative of a creditor in the estate, often an employee of the Swedish Tax Agency, takes on the role of safeguarding the interests of the creditor community. Relevant for larger estates or special circumstances. Not applicable in smaller estates in Romerike and Glåmdal District Court |
| Legal pledge | In bankruptcy law, a legal pledge is the bankruptcy estate's statutory pledge of 5 % of each asset encumbered by a pledge that belongs to the debtor at the time the bankruptcy is opened. It is the pledgee who is obliged to pay the legal pledge to the estate. |
| Cash and cash equivalents | Available funds to cover current debt obligations. |
| Earthing requirements | Debt obligations incurred by a bankruptcy estate. This includes, for example, the trustee's own fees, various fees and any salary obligations if there is continued operation under the auspices of the estate. |
| Temporary reporting | Document prepared by the trustee for the probate meeting in the estate. |
| NAV wage guarantee | Public body where employees of bankrupt companies can apply for outstanding salary and holiday pay for certain periods in the past, as well as one month in the future under certain conditions. |
| Cancellation | A claim in a bankruptcy estate for repayment of transactions made prior to the opening of bankruptcy which, under certain conditions, is an unfavourable treatment of creditors. |
| Winding up / petition for winding up | The company's own board of directors files for bankruptcy. |
| Armour | Security for a claim in an object. |
| Equity and liabilities | Debt obligations. |
| Requester | A creditor (company, person or public authority) who files for bankruptcy of a company or person. |
| Principal liability | The fee the petitioner must provide as security for the bankruptcy's costs. The fee amounts to 50 court fees (NOK 67,250 in 2026). |
| Shift assembly | Meeting in the district court approx. 3 - 6 weeks after the bankruptcy was opened. In addition to the judge, the bankruptcy trustee and the bankruptcy debtor must attend. At the meeting, the bankruptcy trustee will present a document (Interim Report) and the bankruptcy debtor will have the opportunity to comment on it. The meeting is open to the public and employees, creditors and, for example, the press or others have the opportunity to attend (without the right to speak). |
| Debtor | A company/private individual that owes someone money or something else. |
| Chairman of the board | The chairman of the company's board of directors, who has overall responsibility for the company. Through board meetings, the chairman of the board shall ensure that the company's operations comply with the legal requirements imposed on a company under Norwegian law. |
| Compulsory dissolution | A company is compulsorily dissolved due to the absence of a board of directors, auditor or submitted annual accounts. The decision is made by the district court and the estate proceedings are equivalent to bankruptcy proceedings. |
| Compulsory liquidation | A company is compulsorily wound up if the company does not complete its own attempt to dissolve the company within one year. The decision is made by the district court and the estate proceedings are equivalent to bankruptcy proceedings. |
| Attachment pledge | Attachment pledges are established through the bailiff and provide security for claims. A pledge can, for example, be a pledge on an account balance or future salary income. |
| Raffle | Payment of the estate's surplus, i.e. the funds in a bankruptcy estate that exceed the estate's costs. The funds are distributed according to priority in accordance with Chapter 9 of the Coverage Act and the distribution takes place after the bankruptcy proceedings have been finalised. |
| Annual statement | When a bankruptcy has been in progress for one year from the date of the bankruptcy opening, the trustee must prepare a document to summarise the trustee's work so far and point out remaining issues. The document is public and will be sent to all creditors who have registered their claims in the estate. |
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