A partial ruling from a Danish court shows that the People's Bank of China is part of a lawsuit against Vestas, in which the former Vestas management led by Ditlev Engel and Bent Carlsen is accused of misleading the stock market with deceptive financial reporting, reports Danish media Børsen upon accessing the ruling.
The bank believes it lost DKK 44 million (EUR 5.9 million) on the deception. The plaintiffs, which apart from the bank include an investment fund owned by the Canadian government and Allianz Global Investors, is being advised by consultant firm Deminor, which declines to comment on the case. The former Vestas management is represented by Vestas lawyers Gorrissen Federspiel as they are covered by Vestas' executive liability insurance if they lose the case.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from EnergyWatch
Ørsted aims to be number one on carbon capture
The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.
H2 Energy calls for faster offshore wind tender to accelerate PtX efforts
With its 1GW hydrogen production, Swiss H2 Energy Europe is among the companies confident in a booming hydrogen industry in Denmark in coming years. For Denmark to take the lead, political action is needed, the company notes.
Statnett warns of potential strained power situation in Norway
The map of Norway’s power situation has received a splash of yellow in the southern region due to low water levels and uncertainty over future import options.
Nordex downgrades forecast
The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.
Frontline CEO: Russian oil flows quite freely on the market
Frontline is not taking the ”moral high ground” in regards to Russia but complies with the existing sanctions. Large amounts of Russian oil are still passing through the market, said chief executive Tuesday.
Head of department for digital change journey 
Economists who are passionate about advocacy and industrial economics 
Project Developer 
Senior Expertise Director, Biomass 
Senior Risk Analyst 
Experienced Contract Manager for one of the world's most important green projects 
Project manager for Denmark's best internet 
We are looking for advisers who will help shape the green transition and develop the business area "Sustainable Energy" 
Specialist who can develop our GIS systems 
Pipeline Manager 
Strategic project manager for the green transition 
Senior Logistics Site Manager 
Team Manager 
Engineer or physicist with an interest in energy, international work, supervision and regulation