EnergyWatch

Huge claims crumble in legal aftermath of OW Bunker collapse

OW Bunker's bankruptcy estate still hopes to generate further funding for a monumental compensation case, after being forced to set the bar much lower the first time around.

Photo: OW Bunker

A lack of money in the estate of bankrupt OW Bunker has forced the bankruptcy lawyers to temporarily abandon a historically large compensation claim against the company's former executive management, the accounting firm Deloitte, and the equity fund Altor, reports Finans.

Ad hoc trustee Søren Halling-Overgaard originally intended to file compensation claims for DKK 2.2 billion (EUR 295 million), but on Dec. 23 2016, he filed a much smaller suit of DKK 400 million at the court in Danish city Aalborg. This is because OW Bunker's creditors refused to put more money in the estate to complete the trial, and there was thus only funding to complete a case with a much smaller claim.

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