Former CFO of OW Bunker Morten Skou has appealed his compensation verdict to the Supreme Court. This is reported by Finans, which has spoken to Morten Skou's lawyer, Søren Bergenser.
Morten Skou was, together with Lars Møller, who was director of OW Bunker's subsidiary in Singapore, Dynamic Oil Trading, sentenced in the Eastern High Court to pay a total of 200 million kroner in compensation when the case was decided on January 9.
The large-scale compensation case was filed in the wake of OW Bunker's bankruptcy. The case has been called the biggest stock market scandal in Danish history.
Lars Møller's lawyer, Arvid Andersen, tells Finans that it has not yet been decided whether the case against the director of the subsidiary will also be appealed.
With the verdict, the High Court chose to acquit the company's former owner, the private equity fund Altor, the former top management and board of directors, and the company's auditor, Deloitte. And thus the result landed far from the 1.2 billion kroner that trustee Søren Halling-Overgaard had demanded prior to the decision.
As trustee, he was responsible for the clean-up after OW Bunker's bankruptcy, and in this connection he tried to collect money for the bankruptcy estate - and thus the banks and creditors who lost large amounts in the bankruptcy 11 years ago.
Was Denmark's second-largest company measured by revenue
OW Bunker went from being Denmark's second-largest company measured by revenue in 2013 to going bankrupt in November 2014. The bankruptcy occurred just eight months after the company had gone public. As a result, thousands of investors lost money.
In 2024, a number of investors reached a settlement in a separate case, which meant that they were compensated with 645 million kroner from Altor, two banks, OW Bunker's bankruptcy estate and the former management.
However, a settlement was not achieved in the case, where the bankruptcy estate had made claims against a total of ten defendants - including Altor, the former management and the company's auditor, Deloitte.
The defendants rejected an offer to enter into a settlement of 600 million kroner - i.e. half of the claim of 1.2 billion kroner.
Therefore, in February, the Eastern High Court began the extensive compensation case, which will now proceed to the Supreme Court.
/ritzau/
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