Regulation

USTC takes big hit on environmental scandal: "Annus horribilis"

Oil and shipping group USTC books massive write-down due to the Nordic Waste environmental case and calls the year an ”annus horribilis”.
The owners of the USTC Group and the collapsed Nordic Waste, Torben Østergaard-Nielsen, Nina Østergaard Borris (center) and Mia Østergaard Rechnitzer, deliver yet another financial report with high earnings and can add to their personal fortune. | Photo: PR-foto USTC-koncernen
The owners of the USTC Group and the collapsed Nordic Waste, Torben Østergaard-Nielsen, Nina Østergaard Borris (center) and Mia Østergaard Rechnitzer, deliver yet another financial report with high earnings and can add to their personal fortune. | Photo: PR-foto USTC-koncernen
by DAG HOLMSTAD

Oil billionaire Torben Østergaard-Nielsen and his two daughters book large losses and a major write-down due to the Nordic Waste case, show the 2023-2024 financial statements of the family-owned conglomerate United Shipping & Trading Company (USTC).

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