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Arntzen de Besche assisted a Dutch shipping company in a case against the Chairman in a Norwegian company

The City Court of Oslo passed a ruling on 19 July 2019 ordering the Chairman of Marsoft International AS – Pål Leo Eckbo - to pay to Vroon Containers B.V. a compensation amounting to 2.1 million USD and legal fees of MNOK 3.8. Vroon Containers B.V. had already arrested Eckbo’s assets in Norway for the underlying claim but prevailed with its claim for additional arrest covering interest and legal fees amounting to MNOK 10.

The dispute flowed from a cooperation agreement between Vroon Containers B.V., Marsoft International AS and a Maltese company (BHC) pertaining to the acquisition of 32 container vessels.

Vroon Containers B.V. was according to this agreement obligated to provide equity financing with up to 21 million USD. Parts of the equity financing was to be taken over by external investors. Provided that external investors by end of 2015 had not subscribed for loan notes to partly repay Vroon Containers B.V.’s loans to BHC, Marsoft International was obligated to step in and take over debt worth 2.1 million USD.  Marsoft International AS did not subscribe and pay and was in 2017 ordered by an arbitral tribunal to pay to Vroon Containers B.V. the 2.1 million USD. Marsoft International AS went shortly thereafter bankrupt. Vroon Containers B.V. subsequently held the chairman of Marsoft International AS – Pål Leo Eckbo – liable for the financial losses caused by the failure of Marsoft International AS to subscribe and pay and prevailed with the claim in court.

Counsels for Vroon Containers B.V. were Terje Granvang and Eirik Nakstad.

The dead line for appealing the judgment is 15 September 2019.