Media: OW Bunker threatened by collapse in October

Internal reports show that OW Bunker was facing enormous problems already back in October, according Danish news media DR.

Photo: René Schütze

Several weeks before the crash of OW Bunker, the situation at the company had become so problematic that the company should have notified the stock exchange, according to Danish news media DR Nyheder, which has gained access to internal reports from several crisis meetings held at the company on October 16th.

The reports show that the company expected a shortage of liquidity of around USD 50 million at the time, according to DR Nyheder - and this information never reached the company's shareholders. Rather, the sale of OW Bunker shares continued at high rates, and if the information is correct the company should have issued a brief to the stock exchange, says Søren Friis Hansen, professor of corporate law at Copenhagen Business School (CBS).

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