Denmark

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Denmark's Lundbeck To Cut 1,000 Jobs In Restructuring

Drug maker Lundbeck will slash costs by 3 billion Danish crowns ($444.6 million) and cut 1,000 jobs in a bid to regain profitability, the company announced on Wednesday. The Danish firm, which appointed a new chief executive last May, sells drugs to trea ...

Daily Headline - global.abi.org - 08/19/2015 - 22:35 - 0 comments

Concern in Denmark as Its Currency’s Peg to the Euro Is Strained

In recent weeks Denmark’s fixed exchange-rate regime has come under extreme strain, as moves by the European Central Bank have caused the value of the euro to plummet, the International New York Times reported. That has led to grave concern here, as ...

Daily Headline - global.abi.org - 02/12/2015 - 23:21 - 0 comments

Danish Shipping Company Copenship Files For Bankruptcy

Privately-owned shipping company Copenship has filed for bankruptcy in Copenhagen after losses in the dry bulk market, its Chief Executive Michael Fenger told Reuters. Copenship had been operating over 50 chartered small-sized dry-bulk vessels carrying g ...

Daily Headline - global.abi.org - 02/04/2015 - 22:48 - 0 comments

Fleet-Owning Unit Of Bankrupt OW Bunker Taken Over

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday. OW Bunker, the largest ship fuel supplier in the world, collapsed earlier this ...

Daily Headline - global.abi.org - 11/27/2014 - 20:38 - 0 comments

Concern Rises As Cracks Appear In Nordic Model

Cracks are beginning to appear in the vaunted Nordic model. The four main Nordic countries – Denmark, Finland, Norway and Sweden – still grace the top of most global rankings for happiness, competitiveness, the best place to be a woman and even the best ...

Daily Headline - global.abi.org - 11/20/2014 - 22:17 - 0 comments

OW Bunker Far East To Meet Liquidator On December 4; Six More Vessels Arrested

The Singapore arm of bankrupt Danish shipping fuel trader OW Bunker will meet with its liquidator KPMG in early December to discuss the firm's outstanding debt, which totals almost $1.5 billion globally, Reuters reported. OW Bunker, a leading suppli ...

Daily Headline - global.abi.org - 11/18/2014 - 21:58 - 0 comments

Belgian Law Firm Deminor Says Contacted By OW Bunker Investors

Belgian law firm Deminor said it had been contacted by 15 to 20 investment firms considering legal action over the failure of OW Bunker, the world's largest shipping firm which filed for bankruptcy a week ago, Reuters reported. Deminor, which specia ...

Daily Headline - global.abi.org - 11/16/2014 - 21:54 - 0 comments

Four More Firms File Claim Against Bankrupt OW Bunker

A flurry of firms have filed lawsuits against the Singapore units of bankrupt Danish shipping fuel trader OW Bunker, with claims totalling more than S$5 million, and traders say this is likely just the beginning of a wave of court actions. Court document ...

Daily Headline - global.abi.org - 11/12/2014 - 21:46 - 0 comments

Danish OW Bunker Seeks Court Protection For Insolvency

Danish bunker supplier OW Bunker announced Thursday, November 6, that two of its major operating subsidiaries were expected to be insolvent and it is seeking court protection, Platt’s reported. The bunker supplier is seeking protection for subsidiaries O ...

Daily Headline - global.abi.org - 11/06/2014 - 23:02 - 0 comments

Denmark's Tanker Company Torm Agrees On Debt Restructuring

Debt-stricken Danish tanker operator Torm said on Monday it had agreed a deal with group of its lenders and Oaktree Capital Management, a large U.S. investor in distressed debt, to restructure the company, Reuters reported. The Danish company is one of t ...

Daily Headline - global.abi.org - 10/27/2014 - 22:14 - 0 comments

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