23rd Annual IBA Global Insolvency and Restructuring Conference
7 May - 9 May 2017
Shipping industry insolvency: case study of the OW Bunker multijurisdictional insolvency case (Denmark and beyond)
Monday 8 May (1030 - 1230)
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.