Plesner has represented Morgan Stanley and Carnegie in reaching a settlement in the OW Bunker case complex

Case News
In the group of linked cases involving the bankrupt marine fuel oil company OW Bunker, the significant professional parties, including the private equity fund Altor, the investment banks Morgan Stanley and Carnegie, the Danish and the foreign institutional investors, and the class action representing the Danish private investors that bought shares in connection with and after the IPO of the company in the spring of 2014, have reached a settlement.

OW Bunker went bankrupt in November 2014 after suffering significant losses on derivatives and a loss on a subsidiary's biggest customer in Singapore. The bankruptcy of OW Bunker led to heavy losses for both the company’s creditors and the shareholders that had invested in the company in connection with the IPO and afterwards.

None of the defendants have acknowledged any legal responsibility in the group of linked cases in connection with the settlement. In accordance with the Danish rules on class action lawsuits, the last step in finalizing the settlements is to have the Danish Eastern High Court formally approve the settlement and determine the costs in the class action litigation.

Plesner has represented Morgan Stanley and Carnegie in the complex since the proceedings were initiated.

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