Wednesday: The High Court of Eastern Denmark rejects yet another claim for compensation against, among others, private equity fund Altor and the former management of OW Bunker, reports business daily Børsen.
Private equity fund Altor wants to reap the last rewards from many years of acquisitions and investments in Wrist before the fund approaches its heralded sale of the company. Among other things, challenging integration of a major acquisition has affected sales plans, Altor partner says.
The risk of a negative outcome in the ongoing compensation case following the collapse of OW Bunker is very low, writes Altor Equity Partners in its 2016 annual report. The equity fund handled the IPO of the collapsed bunker company.
Equity fund Altor blurred the cash trail when it via Deloitte took DKK 1.2 billion out of Denmark. Now the Danish Customs and Tax Administration wants repayment of DKK 140 million, reports Danish media DR.
Ét konkursbo risikerer at betale hele regningen, hvis kreditorerne i de fem boer efter OW Bunker taber sagen mod den tidligere ledelse og kapitalfonden Altor. Kurator forventer afklaring i oktober, inden sagen bliver indstævnet.
Danish-based supplier to carriers and the offshore sector, Wrist Ship Supply, has adjusted its course slightly and is now once again targeting US acquisitions, CEO Robert Kledal tells Berlingske Business.
Denis Viet-Jacobsen, former senior executive of Altor Equity, owner of OW Bunker prior to the IPO, is among the investors who will now continue operating OW Bunker's tanker ivessels in Alba Tankers following the bankruptcy.
Already back in 2008 or one year after the equity fund Altor took over the company, OW Bunker was in a life-threatening crisis which could have been the end of the company, explains OW Bunker's former Risk Manager Kenneth Rosenmeyer in a new book.
Allerede tilbage i 2008 eller et år efter at kapitalfonden Altor havde overtaget virksomheden var OW Bunker i en livstruende krise, der kunne have kostet den livet, fortæller OW Bunkers daværende risikochef Kenneth Rosenmeyer i ny bog.