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Pension funds prepare to settle large claim in OW Bunker case

ATP, PFA and 22 other major investors want to settle a protracted legal battle with banks, the private equity fund Altor and the former management.
”No one could have predicted the events in 2014 when OW Bunker was hit by the ”perfect storm” as a consequence of unexpected, huge price movements on the oil market and fraud in the subsidiary in Singapore at the same time. It is extremely unfortunate that the bankruptcy triggered such significant losses,” says Søren Johansen, partner i Altor Equity Partners in a draft press release. | Photo: Mik Eskestad/Jyllands-Posten/Ritzau Scanpix
”No one could have predicted the events in 2014 when OW Bunker was hit by the ”perfect storm” as a consequence of unexpected, huge price movements on the oil market and fraud in the subsidiary in Singapore at the same time. It is extremely unfortunate that the bankruptcy triggered such significant losses,” says Søren Johansen, partner i Altor Equity Partners in a draft press release. | Photo: Mik Eskestad/Jyllands-Posten/Ritzau Scanpix
by JAKOB SKOUBOE, DAG HOLMSTAD

With the prospect of a year-long legal battle after the crash of OW Bunker, which went bankrupt ten years ago, several large Danish investors led by pension funds are prepared to settle.

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