A claim for compensation of over one billion kroner in the case of OW Bunker during bankruptcy was rejected by the Supreme Court on Tuesday. The claim from the bankruptcy estate against a capital fund and an audit firm rests on the same basis as in another already filed lawsuit, the reasoning reads. The rejection applies to a claim of DKK 1,014 million. DKK.
OW Bunker, based in Nørresundby, dealt in fuel for shipping worldwide. The company went bankrupt in 2014. It happened just eight months after a large-scale IPO, which was celebrated as a great success.
Up to the IPO, OW Bunker was owned by the capital fund Altor. Shortly before, the fund withdrew a large amount as a distribution to a company in Luxembourg. It was in December 2016 that the bankruptcy estate of OW Supply & Trading A/S filed a claim for compensation against Altor and the auditing firm Deloitte. The demand was DKK 200 million. But reservations were made to increase the claim, so that it came to a total of DKK 1,214 million. DKK.
In October 2017, a new case was brought against the same actors. The summons was from OW Bunker under bankruptcy and Wrist Marine Supplies A/S under bankruptcy.
It is the latter case which was given the death blow by the five judges on Tuesday. This is due to a rule that you cannot initiate a new case with a claim that is included in an already filed and unfinished case.
The judges believe that the demand for 1014 million DKK is already for assessment in the first case. They thus agree with what their colleagues in the Eastern High Court reached in a judgment almost a year ago.
During the case, lawyer Søren Halling-Overgaard and two colleagues for the bankruptcy estate have argued that the basis, on the other hand, is not the same. Thus, Tax has come up with a claim of DKK 139.4 million. DKK in dividend tax. It happened after the filing of the first case.
In addition, the other party has said that it was already stated in the summons in the first case that a possible tax claim could lead to further allegations.
Furthermore, the first bankruptcy case is currently in process at the Eastern High Court. Here, the court must decide in April whether the original compensation claim can be lifted or not.
Ritzau
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