Latausjärjestys
Latausjärjestys, a Finnish term, translates to "charging order" or "order of priority for charging" in English. It refers to a legal concept primarily within Finnish law concerning the order in which creditors can claim assets from a debtor's estate. This principle is crucial in situations like bankruptcy or when a company is being liquidated, ensuring a fair and structured distribution of limited resources.
The general principle of latausjärjestys dictates that certain types of claims have priority over others. Secured
Finnish insolvency law meticulously outlines this hierarchy. For instance, administrative costs of the bankruptcy proceedings and