Bank steered clear of a loss amounting to tens of millions of Danish kroner
Holst, assisted with advice, legal action, assets investigation, sale of mortgaged assets, and comprehensive negotiations when a Danish bank was to overcome a significant loss from a Danish/German customer.
A Danish bank had claimed an amount of tens of millions of Danish kroner from a Danish/German group of companies which had accrued a great debt due to trade in various financial instruments, including foreign currencies.
The group was widely diversified, and several persons and companies in both Denmark and Germany had furnished securities. Hence, associated partner of Holst, Henrik Christian Strand assisted on a num-ber of fronts.
He partly provided advice to the Danish bank; and he partly consolidated two existing lawsuits with two different attorneys into one lawsuit with him as attorney. He also assisted in investigating assets in North America and Asia – and attended negotiations with American lawyers. In addition, he handled the sale of mortgaged assets in Germany. And finally, he headed the comprehensive negotiations with involved guarantors and their lawyers.
The result was a reasonable settlement for all parties, including the bank which ultimately could settle with a limited loss on the entire banking arrangement.