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OW trustees use untested Danish law to hunt carriers

The trustees of bankrupt oil company OW Bunker are trying a fresh approach to retrieve approximately USD 29 million owed from other companies by using an as yet untested Danish provision. This is the hottest new development in the case, says lawyer.

Photo: Andreas Vallbracgt-Prachtvoll/Jyllands-Posten

Trustees are treading a new path in their quest to retrieve money for the estate of Danish oil trading company OW Bunker, which collapsed in a spectacular bankruptcy in November last year. 

The trustees, consisting of major Danish law firms Gorrissen Federspiel and Plesner, have launched a string of legal actions against carriers across the globe through two Danish courts. And if the Danish courts rule in their favor, the path will be partially cleared for potential payout of approximately USD 29 million from a range of shipping carriers, through an as yet untested provision which could completely overhaul standard practice in cases of this nature.

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