World Courant
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On August 23, the board of debt assortment company Truthful Group, consisting of supervisor Rune Heimstad and member Christian Aandalen, ensured that every one subsidiaries of the group had been offered – to nice protest – to the Bilforum firm of the Bergen investor Jens Petter Teigland.
Teigland initially owned 25 p.c of Truthful Group and had additionally borrowed roughly NOK 50 million over time to function the group. The worth he paid for the subsidiaries, i.e. all of the working actions of the Truthful Group, was most likely NOK 6 million if money owed should not taken into consideration.
However Teigland didn’t stay as sole shareholder for lengthy. From the start of October, Rune Heimstad and Christian Aandalen, like Teigland, every personal 33 p.c of the brand new firm Truthful Group Nordic. Within the outdated Truthful Group, Heimstad and Aandalen owned 23 and three.7 p.c of the shares respectively.
The proceeds of the theft?
– They stole the corporate and divided it amongst themselves, says Jørn Heimstad.
The article continues beneath the commercialHe’s the uncle of Rune Heimstad and, collectively together with his spouse Wenche, has owned 25 p.c of Truthful Group by means of the corporate Cerebus for the reason that begin.
– It’s a must to look for a very long time for the companion of greed, he provides earlier than referring to lawyer Christian F. Galtung in CMS Kluge.
Lawyer Christian F. Galtung (Picture: Gorm Okay. Gaare)– The primary picture I get in my head is three guys sharing the proceeds of a theft, so that is ugly. It is virtually unbelievable {that a} constellation that owns simply over 50% of an organization by means of a couple of paper transactions finally ends up with simply these three as homeowners of every little thing, whereas the remaining is reset to zero. If that is attainable and authorized, having a 51 p.c stake in firms sooner or later may very well be helpful, Galtung says.
He’s now getting ready the petition to reverse the whole August 23 transaction. Discover of damages claims has additionally been despatched in opposition to each Teigland, Rune Heimstad and Christian Aandalen
– Finally this must be proper, says Galtung
Warns of lawsuits and damages claims following Truthful Group’s eviction: – That is disgusting– Stands firmly
Christian Aandalen and Rune Heimstad utterly disagree with the presentation of the case by Jørn Heimstad and lawyer Galtung.
– The very fact is that the Teigland household totally financed Truthful and took all of the dangers. Whereas the couple Jørn and Wenche Heimstad have disadvantaged the corporate of nice values by means of an settlement with their Cerebus Make investments, a provider of consultancy companies to Truthful, says Rune Heimstad.
– Once we settled the standing in November 2021, the Truthful group owed NOK 50 million to Teigland, whereas Cerebus and related firms had obtained NOK 40 million. That is illustrative of Jørn’s repeated actions, he says.
The article continues beneath the commercialThis summer season it was a knife to the throat. The field was empty. Heimstad explains that vital mistrust had developed among the many shareholder neighborhood and that Teigland, as the corporate’s largest and successfully solely creditor, was involved about its general monetary danger. The board due to this fact proposed an issue.
– Cerebus didn’t need an issue whereas NOK 30 million in loans to Teigland matured across the flip of the yr. The one actual resolution was to promote the offal. The choice could be a pressured sale, says Christian Aandalen.
Christian Aandalen owned 3.7 p.c of the debt assortment group Truthful Group earlier than the whole offal was offered within the autumn, in opposition to robust protests from minority shareholders. He now owns 33 p.c of the brand new Truthful Group Nordic. (Picture: Beursgroep)– And now you two and Teigland every personal a 3rd of the brand new inventory trade, shortly after Teigland purchased all of the offal?
– We had been invited to take part on the identical phrases as Teigland, based mostly on an unbiased valuation of the brand new grant of NOK 60 million, together with debt. We stand by what now we have carried out. Cerebus and the Heimstads are after all utterly free to prosecute this in courtroom, however we consider that we couldn’t have carried out something in a different way if we had saved the corporate and thirty jobs.
Value 110 million?
Jørn Heimstad says that he doesn’t acknowledge himself in any respect within the image of actuality that cousin and Aandalen paint.
– The very fact is that now we have equipped the whole IT and provider system by means of our firm, in accordance with the settlement with Truthful. All invoices and time sheets have been authorised by Rune, he says.
The article continues beneath the commercialPresent all positions
– Final yr we concluded a settlement settlement with New 12 months’s Eve, because of which we had been ready to promote out, amongst different issues. At the moment, the corporate itself had set a worth of NOK 110 million plus debt, in order that we’d obtain NOK 27.5 million for our 25 p.c. As a substitute, Rune and Christian offered all of the group’s actions to at least one shareholder for a web of six million. And so the 2 had been subsequently rewarded with 33 p.c every within the new firm.
DN has seen the settlement settlement value NOK 110 million.
– We will solely perceive that it has been their plan for a very long time to applicable our values. In fact it isn’t one thing we are able to agree with. That’s the reason we are actually wanting into this legally, says Jørn Heimstad.
Dramatic pictures: – Nobody has seen something like this earlier than
Salmon utterly eaten by lice on the facility of Mowi’s Icelandic subsidiary Arctic Fish in Iceland. All fish within the facility should be lifeless or sick.
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Printed: 01.11.23 — 09:39
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Bitter settlement in debt assortment enterprise: – Shares theft proceeds
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