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Law firm dropped by investors in OW Bunker

Law firm dropped by investors in OW Bunker

24-11-2017 13:00:00

The law firm Bruun&Hjejle has been dropped by large investors in the case against OW Bunker. This is due to the fact that the law firm has been convicted of a fine for incompetence in the case because the firm previously performed tasks for the now-deputy head of OW Bunker, Jim Pedersen, Børsen writes.

Bruun&Hjejle represented about 20 institutional investors for damages against the former management of OW Bunker, defending a total of 837 million DKK.

However, when the Advocate Board on October 24 this year sentenced managing director of Brusten&Hjejle, Karsten Kristoffersen to pay a fine of 10,000 DKK for acting in violation of good law practice, investors decided to look for a new lawyer.

"The most important thing for our clients is to focus on what the cases are about: if the market received correct information in connection with the initial public listing and during the period until bankruptcy," says Mogens Thorninger, chairman of Bruun&Hjejle, according to Børsen.

The law firm would bring the decision to court, but has since abandoned that plan, even if it does not agree with the decision of the Advocate Board.
Bruun&Hjejle continues to lead the part of the matters not related to the former senior management.

Source: Børsen / Maritime Denmark

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