Law firm must pay Polaris Media 100 million kroner in compensation

Norwegian Supreme CourtPhoto: Gorm Kallestad / NTB

Polaris Media ASA has been awarded NOK 100 million in compensation for losses as a result of errors in legal advice, the company stated.

On January 12, the Supreme Court’s appeals committee decided that the law firm’s appeal against the Borgarting Court of Appeal’s verdict dated September 17, 2020, could not be submitted, Polaris Media told news bureau NTB in an email.

“We are happy that the verdict is final. It has been established that there is a basis for liability in that the lawyer has not fulfilled his obligations to us as a client. 

“Both the District Court and the Court of Appeal have come to the conclusion that the assistance we received does not satisfy the expectations one should have when contacting a lawyer,” CEO Per Axel Koch noted.

The background for the lawsuit is the advice lawyer Trond Vernegg from the law firm Arntzen de Besche gave Polaris Media in connection with the sale of shares in back in 2015.

The law firm was hired as advisers to help Polaris Media sell 0.13% of the shares in to Schibsted.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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