Session details

23rd Annual IBA Global Insolvency and Restructuring Conference

7 May - 9 May 2017

Session information

Shipping industry insolvency: case study of the OW Bunker multijurisdictional insolvency case (Denmark and beyond)

Committee(s)

Insolvency Section (Lead)

Description

In October 2014, OW Bunker, one of the World’s largest bunker oil traders, with its headquarters in Denmark went insolvent only six months after its IPO. It had operations in 29 countries and claimed to control around seven per cent of worldwide bunker trade. Major insolvencies of groups operating in multiple countries often pose uniquely complex legal issues such as involving title rights, employees, contracts and physical assets governed by multiple jurisdictions. This interactive session will explore the particular challenges of the OW Bunker case, drawing on speakers who were key players in this major shipping industry insolvency.

Session / Workshop Chair(s)

Andreas Bauer LL.M. GSK Stockmann, Munich, Germany; Co-Chair, Creditors' Rights Subcommittee

Speakers

Johannes Grove Nielsen Bech-Bruun, Copenhagen, Denmark; Vice Chair, Maritime and Transport Law Committee
Kristoffer Hegdahl Advokatfirmaet Thommessen AS, Oslo, Norway
Michael B Schaedle J.D. Blank Rome LLP, Philadelphia, Pennsylvania, USA
John Schmidt Gorrissen Federspiel, Other City, Denmark