Settlement in lawsuit in opposition to Schjødt

World Courant

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It’s Stavanger Aftenblad that stories on Sunday night {that a} settlement has been reached within the case, which might begin on Monday morning on the Sør-Rogaland court docket. Each events confirmed this to the newspaper.

– I can verify that we agree. Each events wished to discover a answer after a number of years of disagreement as a substitute of continuous the dispute in court docket, Egil Willumsen’s lawyer Sven Eriksrud advised Aftenbladet.

Neither Sven Eriksrud nor Kenneth Storalm’s lawyer, Fredrik Gisholt of legislation agency Wikborg Rein, wish to say something in regards to the contents of the settlement.

Actual property price 85 million

It has been 5 years for the reason that lawyer and actual property investor Kenneth Storalm bought a metropolis heart property in Stavanger to the corporate Retail Workplace Stavanger, an organization owned 50/50 by the investor Harald Espedal and the Oslo-based Jan Olav Steensland and his household. In the true property transaction, the 2 events agreed to make use of Schjødt lawyer Erling Ueland, one of many nation’s highest-paid legal professionals for a number of years, as joint counsel. After a short while, Ueland’s Schjødt colleague Egil Willumsen took over. Storalm acquired roughly NOK 85 million for the property when it was bought in October 2018. Everybody was apparently glad. However it would not final lengthy.

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Kenneth Storalm, by way of the corporate Hospitalgaten as legislation agency Schjødt and lawyer Egil Willumsen, sued and demanded damages as a result of he believed that Willumsen was not a joint lawyer for each events, however that in actuality the customer, Harald Espedals, was the lawyer within the transaction . .

– In brief, the paperwork that the vendor grew to become conscious of after the transaction present that the defendant events truly acted as the customer’s lawyer, which influenced the method and the settlement – together with the acquisition worth, in line with the closing assertion of lawyer Fredrik Gisholt in Wikborg Rein.

Gisholt and his shopper due to this fact believed that the shut relationship between Espedal and Willumsen resulted in a decrease gross sales worth for the property than would in any other case have been the idea. Gisholt additional acknowledged that the suspects’ habits was opposite to quite a lot of provisions of the rules for good authorized follow.

– In response to the defendants, there is no such thing as a proof or different proof that the concluded settlement ought to have induced him monetary loss, in line with Eriksrud’s closing assertion. Eriksrud additionally rejected that there ought to be any violations of excellent authorized follow pointers.

Slender tyres

The closing assertion by Storalm lawyer Fredrik Gisholt identified the shut ties between Schjødt lawyer Willumsen and investor Harald Espedal.

– Solely after a considerably turbulent gross sales course of did the claimant grow to be conscious that there are very shut ties between Espedal and Mr Willumsen (each professionally and privately). Lawyer Willumsen was the Espedal household’s common lawyer for all these transactions, and the Willumsen and Espedal households went on vacation collectively. Willumsen has additionally invested in Espedal’s so-called “buddies fund”. Afterwards it additionally grew to become recognized that the connection between Advokatfirmaet Schjødt and the customer facet was nearer than the vendor had cause to imagine, in line with Gisholt’s newest assertion.

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After the transaction was accomplished within the fall of 2018, Willumsen began working as common supervisor of the corporate that bought the property, Retail Workplace Stavanger, within the fall of 2019. Willumsen and Espedal stay only a few hundred meters aside in Eiganes in Stavanger. Since leaving as CEO of the Skagen funds, Espedal has constructed an intensive funding enterprise in each actual property and fairness administration.

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Present all positions

Schjødt lawyer Sven Eriksrud rejected that the connection between Willumsen and Espedal may very well be known as into query.

– There isn’t a foundation within the info of the case for the truth that Egil Willumsen and Harald Espedal had a “very shut relationship” on the time of the switch, because the plaintiff interprets this time period. This can be a declare filed after the actual fact as an try to extract a better compensation for the property than what the customer was keen to pay and which the plaintiff accepted, Eriksrud’s closing assertion stated.

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Settlement in lawsuit in opposition to Schjødt

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