Bankruptcy or Involuntary Liquidation of NUF
A NUF is not a separate legal entity and as such cannot be declared or itself declare bankruptcy. However, bankruptcy may be declared in the foreign main entity. If the main entity has its actual place of management in Norway, it may be declared bankrupt there.
Read more about this topic: Norskregistrert Utenlandsk Foretak
Famous quotes containing the words bankruptcy and/or involuntary:
“The heritage of the American Revolution is forgotten, and the American government, for better and for worse, has entered into the heritage of Europe as though it were its patrimony—unaware, alas, of the fact that Europe’s declining power was preceded and accompanied by political bankruptcy, the bankruptcy of the nation-state and its concept of sovereignty.”
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