Noreco sues the insurance companies
Commencement of legal action for substantial monetary damagesNorwegian Energy Company ASA, Noreco Oil Denmark A/S and Noreco Petroleum Denmark A/S ("Noreco") have initiated a legal action for damages at the Court in Hillerød, Denmark, against the 20 insurance companies ("Insurers") who were ordered by the Danish Maritime and Commercial Court in December 2016 to pay a total insurance sum of USD 344.332.445 plus legal interest of approximately USD 125 million as well as legal costs of DKK 18.592.510 to Noreco. Noreco's claim is that the Insurers must indemnify the losses suffered by Noreco