The Swedish battery maker filed for bankruptcy last week, dashing ambitions for the European electric vehicles sector – and leaving significant EU loans outstanding

The Swedish battery maker filed for bankruptcy last week, dashing ambitions for the European electric vehicles sector – and leaving significant EU loans outstanding

  • tal@lemmy.todayEnglish
    1·
    21 hours ago

    Northvolt filed for bankruptcy, and in the text, they claim Northvolt filed for bankruptcy protection. Like idk, there’s a huge fucking difference between the two…

    Bankruptcy is a legal status that provides protection from creditors when you’re out of funds to pay them. Basically, suspends their ability to compel payment of your debts to them while a court addresses the situation.

    • Murvel@lemm.eeEnglish
      1·
      21 hours ago

      Yeah, that’s the Bancruptcy Protection that they mentioned, but the article get the two completely mixed up…