Northvolt's press chief Erik Zsiga confirms to TT that the court gave the green light to the proposals submitted shortly after the application for American bankruptcy protection through a so-called Chapter 11 process.
"These approvals make it possible, among other things, for the company to continue fulfilling its commitments to employees, suppliers, and customers, as well as to pay taxes, insurance, and public services," writes Zsiga.
Among the points the court took a stance on are the use of cash reserves, financing of around one billion kronor that truck manufacturer Scania has promised, and payment of supplier debts and wages, writes Dagens industri.
Only one creditor had protested against the proposals submitted by Northvolt before the hearing, according to the newspaper.
Northvolt aims to complete the process during the first quarter of next year.
