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OW Bunker curators win important test case

OW Bunker curators win important test case

27-10-2015 12:00:00


In the Court of Appeal in London, the curators of OW Bunker, have won an important test case on the ownership of the oil OW Bunker sold around the time of the bankruptcy. This is according to a decision that TV2/Finance has in its possession.

The judgment of the Court of Appeals states that OW Bunkers bankruptcy has the right to receive payment for the oil that was sold around the time of the bankruptcy. Thus, the judgment infringed the claims of oil-suppliers who believe that they were the rightful owners of the oil.

The oil has a total value of several billion kroner.

This paves the way for hundreds of cases involving the right to the oil will go to OW Bunkers advantage.

The real loser in the test case has the opportunity to appeal to the Supreme Court, but it is unlikely.

OW Bunker declared bankruptcy on Nov. 7, 2014 after a failed attempt to reconstruct the company, which had suffered heavy losses due to credits granted by the company's subsidiary in Singapore.

Source: TV2/Finance / Maritime Denmark


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