Settlement reached in OW Bunker case after 10 Years

Danish and foreign pension funds and private investors, who suffered losses when oil company OW Bunker collapsed in 2014, have reached a settlement. ATP announced in a press release that ATP and PFA led 24 Danish pension funds, along with private investors and foreign capital managers, in a lawsuit against OW Bunker’s former management, its previous owner Altor, and investment banks Carnegie and Morgan Stanley. The settlement grants the plaintiffs compensation of approximately 645 million Danish kroner, including case-related costs. With the agreement, the parties drop any further claims related to OW Bunker, and legal proceedings at the Østre Landsret are discontinued. Tomas Krüger Andersen, the legal head of ATP, Pensions & Investments, expressed satisfaction with the outcome of the settlement.