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Paul Sveinsson has written an article in International Law Office.
Norway is a civil law country and has no specific trust legislation. However, the need for a trustee in the Norwegian bond market resulted in the establishment of Norsk Tillitsmann ASA in 1993.
Norsk Tillitsmann's legal position in a bond loan issue is based on authority conferred on it from bondholders pursuant to subscription agreements, and on provisions in bond loan agreements made between Norsk Tillitsmann as trustee and the issuer as borrower.
Author: Paul Sveinsson
Publication: Internationl Law Office