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Articles contributed by Lett Law Firm
In a judgment delivered 12 May 2009, the Danish Western High Court found that an employer’s dismissal of an employee, who under a private party had committed violence against a colleague, was unjustified. The employee was therefore entitled to damages according to section 3 of the Danish Salaried Employees Act. Since the ground for dismissal would have been a justified ground for dismissal, a claim for compensation according to section 2B of the Salaried Employees Act was dismissed. In the case, the Western High Court ranked the dismissal alongside with an immediate release and considered holiday for being taken which resulted in a reduction of the salaried employee’s claim for damages.
On 14 May 2009, the Supreme Court delivered a fundamental ruling in the so-called “insider case” in which an employee-selected board member had previously been fined by both the district court and the high court for having disclosed internal information from board meetings to the president of his trade union. The judgment by the Supreme Court is contrary to the decisions by the previous courts and finds in favour of the employee-selected board member since disclosure of the information was reasonably justified and was made as a normal part of the duty as employee-selected board member.
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.