You can claim back what a bankruptcy estate owes you, but you will probably not end up first in line.

What do I do when the seller goes bankrupt?

If a company fails to meet its financial obligations, the company may be declared bankrupt. A bankruptcy estate takes over the management and will distribute the remaining values. Once this has been done, it is no longer possible to make new demands.

Bankruptcies are announced on the Brønnøysundregisteret. The register contains contact information if you want to make demands, as well as what the deadline is. It is very important that you meet the deadline.

NOTE! Be aware that there often is nothing left for the consumer in a bankruptcy estate.

What do I do when the seller goes bankrupt?

Faulty goods?

If you want to complain about an item, and the seller is bankrupt, you can complain to the previous seller, supplier, or manufacturer, if the time allowed for complaints has not been exceeded.

If the company was registered as a sole proprietorship, the owner may personally be responsible. You can complain to The Consumer Authority (Forbrukertilsynet) or to The Conciliation Board (Forliksrådet).

Paid with a credit card?

If you have paid with a credit card, the Financial Contracts Act gives you protection. The person who has given you credit (usually the bank) will be liable if the seller of a product or service goes bankrupt, and you have a legal claim against the seller. You can contact them both in the event of a complaint or if you have not received the item you paid for.

Read more about your rights when you have shopped on credit.

Package Tour

If you have bought a package tour, you have extra protection in the event of bankruptcy. Package tours include traditional charter trips and events that have at least two of the following elements: transport, accommodation, and "other tourist services", such as tickets to cultural shows or sporting events.

All Norwegian tour operators have to be part of the Norwegian Travel Guarantee Fund. This will secure you, for example, if you need to return home due to the airline you were going on a package tour with, goes bankrupt. Read more about your rights when purchasing a package tour.

If you have, for example, only bought a flight, and paid directly to the company, unfortunately the money is probably lost. However, you have options if you have paid with a credit card (see above).

Bankrupt builder

If you build or buy a home under construction, the contractor must set aside money as a guarantee. The amount must cover defects for up to ten percent of the purchase price. After takeover, the sum can be down to five percent. The guaranteed amount shall be given for five years, regardless of whether the contractor is bankrupt or not.