The Legal 500

If a company defending an injunction application requests a higher amount as security than that fixed by the enforcement court, it is a matter for the High Court. This principle was recently established by the Copenhagen Maritime and Commercial Court.

On 27 January 2010, the Danish Government presented its – long awaited – proposal to regulate remuneration and bonus structures in the financial sector.

17-02-2009 - Curb on executive pay in the financial sector

Non-life insurance companies’ contributions to financial institutions comprised by the guarantee scheme may be regulated by section 162 (1)(i) of the Danish Act on Financial Stability

On the third February 2009 the Danish Parliament passed the Danish Act on Government Capital Injections in Credit Institutions (the “Act”). The Government’s intention with the Act is to reduce the risk of a vicious circle between the financial sector and the general economy if the banks reduce their lending activities and thereby cause a secondary liquidity crisis in the society in general.

On 10 October 2008 the Danish Parliament adopted the Act on Financial Stability (the “Act”). With effect from 5 October 2008 to 30 September 2010 the Kingdom of Denmark unconditionally guarantees all claims by unsubordinated and unsecured creditors against all Danish financial institutions participating in the guarantee scheme. The government guarantee scheme is established in cooperation with the socalled Private Contingency Association (the “PCA”). The PCA comprises all financial institutions participating in the guarantee scheme.

08-10-2008 - The new agreement for stability in the financial sector bans new stock option plans and renewal of existing plans