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ATP sues OW Bunker executive team and equity fund Altor

Pension fund ATP and a consortium of institutional investors have filed damage claims against equity fund Altor, the former daily management team behind OW Bunker and the bankrupt estate. The combined damage claims total around USD 117 million.

Photo: Kasper Palsnov/Jyllands-Posten

ATP and 25 other institutional investors have on Monday filed a lawsuit against the OW Bunker estate, equity fund Altor as well as the management and board of directors of OW Bunker, according to a statement.

As such, the banks that served as consultants in relation to OW Bunker's IPO look to have steered clear of damage claims this time around. However, the statement includes a provision informing that the banks could be subject to lawsuits at a later date.

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