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Skeljungur hf .: Outcome of a court case in Norway
As Skeljungur has previously revealed, Marine Supply AS filed a lawsuit in Norway against the former management of Skeljungur and P/F Magn and the companies themselves and demanded recognition of joint liability for alleged breaches of a confidentiality agreement.
Today, the district court of Tromsø pronounced its verdict, accepting the claim of Marine Supply AS and acknowledging the joint liability of the former management of P/F Magn and Skeljungur and the companies themselves. The convicts disagree with the verdict and will therefore appeal the verdict.
The ruling has no effect on Skeljungur's proposed sale of P/F Magn in the Faroe Islands.
It shall be stated that no financial claim has been made in connection with the case. It is the opinion of Skeljungur's counsels that no damage was caused as a result of the conduct for which was convicted. In the event a financial claim is submitted and subsequently accepted, Skeljungur has in place a D&O insurance, which the company believes will cover the case. The potential financial impact on Skeljungur is therefore insignificant.
For further information, please contact Árni Pétur Jónsson, CEO, fjarfestar@skeljungur.is
https://www.linkedin.com/company/skeljungur-hf/
