Updates on insolvency proceedings

The trustee is according to section 125 of the Danish Bankruptcy Act obliged to provide information about the affairs of the estate to the bankruptcy court. The information is listed below.

Report under section 125(1) of the Danish Bankruptcy Act


Following Paragraph 40 second subparagraph of the Bankruptcy Act, foreign currency receivables will be settled at the exchange rate on the day the bankruptcy was declared.

Please be aware that all claims, including claims for premium refunds and claims of damage, registered in a foreign currency (i.e. other currency than DKK) will be converted to DKK at the exchange rate of the bankruptcy decree, 20 December 2018, according to the Danish Bankruptcy Act article 40(2).

The following exchange rates will be used:

                                  Currency Exchange rate as of 20th December 2018
                                         DKK                                                              1,0000
                                         EUR                                                              7,4672
                                         GBP                                                              8,2661
                                         NOK                                                              0,7545