News

Movinn and AG Gruppen sign long term master lease agreement

Movinn A/S and AG Gruppen A/S have signed a development agreement and a long term master lease agreement regarding a 4.700 sqm commercial development project in Copenhagen.

New COO at Horten

44-year-old Anders Bager Jensen takes over as COO with Horten from 14 August 2023. He comes from a position as Group Finance Director with the Ministry of Defence.

Better Energy obtains long-term financing for five solar parks in Poland

Horten has assisted Better Energy with financing of the development and construction costs relating to five solar parks in Poland.

Danoffice IT acquires IT consultancy Conecto

Danoffice IT, which is owned by the Pan-European private equity fund Agilitas, has acquired the IT consultancy Conecto.

Car-sharing company Hyre acquires competitor LetsGo

Just three months after its launch in Copenhagen, the Nordic region's largest car-sharing company Hyre has acquired its largest competitor, LetsGo. Horten has assisted Hyre with this transaction.

Norsk Luftambulanse AS regains contract for the nationwide emergency medical helicopter service

Danish Regions has recently signed a new contract with Norsk Luftambulanse AS (NLA). Horten has assisted NLA with regaining the contract for the nationwide emergency medical helicopter service.

No export of defence equipment to Denmark without offset

Foreign suppliers wishing to export to the Danish military are met with an offset requirement from the Danish state.

Polaris performs a full refinancing of the Contour Group

Horten have assisted Polaris with a full refinancing of the Contour Group.

CataCap obtains financing for its acquisition of NLM Vantinge A/S

Horten has assisted the Danish private equity fund CataCap with financing the acquisition of the Danish industrial company NLM Vantinge A/S.

Zenegy lands investment from Chr. Augustinus Fabrikker

The Danish fintech company Zenegy has received a three-digit million investment from Chr. Augustinus Fabrikker, as part of their scale investments.

The European Parliament's Committee on Legal Affairs adopts its position on the Due Diligence Directive

The latest step towards the adoption of the "Due Diligence Directive" was taken recently when the European Parliament's Committee on Legal Affairs ("JURI") voted on its amendments to the European Commission's proposed directive and adopted its negotiating mandate.

Horten’s annual report 2022

Horten has published the financial statements for 2022.

JAKALA acquires the global platform agency FFW

The leading MarTech company JAKALA, has acquired the Danish-based company FFW Groups ApS in the largest non-public digital services acquisition in Europe in 2023.

CataCap acquires the industrial company NLM Vantinge

Horten has assisted the Danish private equity fund CataCap with the acquisition of the Danish industrial company NLM Vantinge A/S.

Bill on revenue cap for electricity production

Electricity producers are subject to a revenue cap for electricity production from 1 December 2022 to 30 June 2023, as set out in the EU Regulation of 6 October 2022 on emergency intervention to counter high energy prices.

DSB Ejendomsudvikling A/S in joint venture on Media City Odense project

Horten is legal adviser to DSB Ejendomsudvikling on the 40,000 sqm mediatech city.

Horten ranked as leading law firm in the 2023 edition of Chambers Europe Guide

In its 2023 edition, Chambers Europe Guide once again ranks Horten as a leading law firm within 11 legal practices.

Deas A/S acquires proptech company IQ Energy Nordic ApS

The property manager Deas A/S has acquired IQ Energy Nordic ApS, one of the leading Danish suppliers of technology for monitoring of and savings on energy consumption.

Solar A/S acquires majority stake in ThermoNova A/S

Solar A/S, a company on Nasdaq Copenhagen, has acquired the controlling interest in ThermoNova A/S, which manufactures high-capacity heat pumps for the manufacturing industries.

Summa Equity invests in Logpoint

Summa Equity is acquiring a majority stake in cybersecurity leader Logpoint, investing from its EUR 2.3bn Fund III in European cybersecurity resilience and the protection of the global digital transformation. Horten has assisted Summa Equity in its first-ever acquisition in Denmark.

Merger thresholds 2023

Horten's Merger Control Poster 2023 provides an overview of the thresholds for merger control in Europe. Download the poster as PDF.

Horten advises Catena on the acquisition of two prime logistics assets

Horten advises the publicly listed Swedish logistics property investor, Catena AB, regarding the acquisition of two newly constructed logistics properties in Horsens along the highway E45.

New regulation of hydrogen and a pilot project on carbon capture storage

A number of amendments which are to promote the green change-over have come into force. More specific, a regulation of the establishment of a hydrogen infrastructure in Denmark and a pilot project concerning carbon capture storage.

Proposal for lower tax on ownership transfers

The new three-party coalition government in Denmark has proposed a reduction of the estate and gift tax in connection with ownership transfers of business enterprises.

Horten expands the partner group with a new M&A partner

Horten has admitted attorney Jonas Eigil Nielsen as junior partner as of 1 January 2023.

Findos Investor acquires Nordiq

Horten has assisted the German private equity fund Findos Investor in the acquisition of a majority stake in Nordiq.

CSRD adopted: From 2024, more extensive requirements will be made on corporate sustainability reporting

The Corporate Sustainability Reporting Directive, also known as the CSRD or the "Reporting Directive", has been finally adopted. Companies must now prepare for reporting pursuant to the directive - if they are not already in the process. We provide an overview of what this means for your business.

Vilhelm Lauritzen Architects acquires the majority holding in Arkitektfirmaet Kjaer & Richter

In 2021, Vilhelm Lauritzen Architects was acquired by a private equity fund, where Horten advised on the transaction. With the acquisition of the majority holding in Arkitektfirmaet Kjaer & Richter A/S, Vilhelm Lauritzen Architects continue its growth journey.

Progress in the negotiations concerning the proposed EU directive on sustainability due diligence

The European Commission will order certain large companies to conduct current due diligence within human rights and the environment. And the Commission is proposing new rules on the enforcement of non-compliance with the due diligence obligations and specification of the management’s obligations. The Council's negotiations concerning the proposed directive are at the final stage.

EU proposal for new emergency intervention may accelerate the green transition

The European Commission has proposed an emergency intervention. The purpose of the emergency intervention is to lay down the framework of an accelerated development of the green transition via “temporary, proportional and extraordinary” initiatives.

Gefion Group issues DKK 200m senior secured bonds

DKK 200m bond issue for Gefion Group has been successfully completed with Horten as legal advisor as to Danish law.

Hydro Rein invests in solar portfolio up to 1 GW

Hydro Rein has entered into an agreement forming a joint venture with Commerz Real to acquire and develop two solar projects from the Danish developer, GreenGo Energy. Horten has assisted Hydro Rein with all Danish legal aspects in connection with the transaction.

Cartel fines to independent advisers

The Danish Competition Council has issued fines to four sole proprietorships for having entered into agreements on prices and customer sharing in the framework of a consultancy concept. The companies have acknowledged the violations and accepted the fines.

New partner to strengthen Horten’s advice on green transition

Horten has admitted Andreas Schønbeck as partner as of 1 October 2022.

IFLR1000 recognises Horten partners

The international directory IFLR1000 recently published its rankings for 2022.

PensionDanmark sells building at a price exceeding DKK 300 million

PensionDanmark has sold the 10,000 square metre large building, Metropolen, in Copenhagen to German investor NAS Real Nordics.

Creators of the outside world B.V. acquires HITSA A/S

Horten advised Creators of the outside world B.V. (CROWD) in connection with the acquisition of the sustainability focused company HITSA A/S.

Atlas Copco acquires the Danish company OXYMAT

Horten has assisted Atlas Copco in connection with the acquisition of OXYMAT A/S

9th World Women Lawyers’ Conference in Copenhagen: Women in Leadership

The lineup of speakers at the bi-annual IBA Woman Lawyers' Conference 11-13 September 2022 in Copenhagen include former Prime Minister Helle Thorning-Schmidt, Co-founder of Nordic Female Founders Mia Wagner and Maria-Pia Hope, Managing Partner of Sweden's largest law firm and Swedish CEO of the year. The conference is themed "Women in Leadership", and Horten is a main sponsor of the event.

The property market in Denmark - trends and developments

What do you need to know as a foreign company wishing to invest in Danish properties? The answer to this question is available in Chambers & Partners Global Practice Guides – Real Estate 2022 in which Horten has contributed with the Danish chapter.

NORD.Investments obtains licence as an investment firm

The Danish fintech company Nord.Investments A/S has obtained final notification from the Danish FSA that it meets the requirements for obtaining a licence as an investment firm. Horten has assisted NORD throughout the process

Polaris and founders sell Det Danske Madhus

Polaris and the founders have entered into an agreement to sell Det Danske Madhus to apetito.

Skandi­naviska Enskilda Banken AB invests DKK 24.5 million in LENEO A/S

Skandinaviska Enskilda Banken AB ('SEB') invests in the Danish fintech company LENEO A/S. Horten has advised the shareholders of LENEO A/S in connection with the investment.

idverde acquires Grøn Vækst

Horten has assisted private equity-owned idverde in connection with the acquisition of Grøn Vækst A/S.

Polaris acquires the eSoft group

Horten has assisted the Danish private equity fund Polaris in the acquisition of a majority stake in the eSoft group.

FDI-screening

The Investment Screening Act came into force 1 September 2021, and we have now made the first experiences. Get an overview of which investments and agreements that need to be FDI-screened and how it is done.

New rules on special offers - This is what you need to know

The new rules on price marketing will come into force soon. On 28 May 2022, the requirements for advertising with savings will be amended based on an EU Directive. The rules will have great practical importance for the planning of special offers.

Dansk Ejer­kapital buys signi­ficant minority stake in Viegand Maagøe

Horten has advised Dansk Ejerkapital in connection with the acquisition of 49 % of the shares in the Danish consulting firm Viegand Maagøe A/S.

The Supreme Court finds in favour of the former CEO of ebh bank in two out of three counts

The Supreme Court has found in favour of the former CEO of ebh bank in the major part of the claim raised by Finansiel Stabilitet in connection with some loan commitments shortly before the bank collapsed.

Horten recognised as a leading law firm by Legal 500

Legal 500 once again ranks Horten as one of Denmark’s leading law firms in its 2022 edition of the international legal directory.

Robin­hood Markets, Inc. acquires Ziglu Ltd.

Horten has assisted the American listed Fintech company Robinhood Markets, Inc. in connection with the acquisition of the British electronic money institution and cryptoasset firm Ziglu Ltd.

New rules on the under­represen­ted gender in the manage­ment of com­panies and commer­cial foun­dations

On 19 April 2022, the Danish parliament adopted bill L 117 A, which tightens the requirements of the Companies Act and the Commercial Foundations Act for the target figures of the under-represented gender.

A new basis for transfer of data to the USA is approaching

After the European Court of Justice declared in July 2020 that the basis of transfer of the Privacy Shield agreement in the Schrems II judgment was invalid, there has been uncertainty as to how you can legally and securely transfer personal data from the EU to the USA. Since July 2020, the European Commission and the USA have negotiated a replacement of the Privacy Shield agreement, and there is now light at the end of the tunnel. The name of the new basis of transfer will be the Trans-Atlantic Data Privacy Framework.

Heavy fine to HTS Besafe for binding resale prices

The Competition Council has issued a fine of DKK 8 million to HTS Besafe for violation of the Competition Act. HTS Besafe has acknowledged having violated the Competition Act and has accepted the fine.

EU judg­ment: Tax autho­rities must comply with GDPR in connec­tion with controls

In a new decision in the matter of C-175/20, the European Court of Justice considered the Latvian tax authorities’ very broad requests for information from private undertakings. The European Court of Justice interpreted the data minimisation principle in Article 5 of the GDPR.

New rankings from Chambers Europe

Chambers - the leading international guide to the best law firms - has once again ranked Horten among the best law firms in Denmark.

Agree­ment on Power-to-X ensures new oppor­tunities

A new Power-to-X strategy is to contribute to the green transition and accelerate the development within Power-to-X by way of objectives, a new subsidy model, and changes in the power infrastructure.

Solo self-employed persons and the compe­tition rules - New guide­lines on the way

The European Commission has published draft guidelines concerning the competition rules’ application to collective agreements for solo self-employed persons. With these guidelines, there will be clear rules as to solo self-employed peoples’ possibility of unionising and collectively negotiating working conditions in accordance with the competition rules. The draft guidelines have been submitted for consultation and are expected in a final version by the end of 2022.

Bill on ear­marked mater­nity leave has been adopted

On 3 March 2022, the Danish Parliament adopted an amendment of the Maternity Act which is to strengthen equal treatment and promote a more equal division of leave between men and women. For example, a part of the leave is earmarked for each parent and new rules are introduced on solo parents and LGBT+ families.

New trade restric­tions against Russia

On 25 February 2022, the Council adopted new trade sanctions in response to Russia’s invasion of Ukraine.

EG acquires Ajour System

Horten has assisted the owner of the SaaS company Ajour System with the sale to EG.

New rank­ings from Cham­bers Global

Chambers - the leading international guide to the best law firms - has once again ranked Horten among the best law firms in Denmark.

Updated guidelines on ESG reporting

On 8 February 2022, the Danish Business Authority published updated guidelines on ESG reporting. The guidelines are intended to help companies report their ESG ratios easily and quickly.

The TDC Group is refi­nanced

Horten has assisted a major consortium of international and Danish banks with the refinancing of the TDC Group.

New agree­ment on special price regu­lation concer­ning geo­ther­mal energy

To promote the green change-over, a political majority has agreed to introduce new rules on geothermal district heating.

ARAS Secu­rity A/S sold to Lager­crantz Group

Horten has assisted the owner of the security company ARAS Security A/S with the sale to Lagercrantz Group.

Merger thres­holds 2022

Horten's Merger Control Poster 2022 provides an overview of the thresholds for merger control in Europe. The Merger Control Poster 2022 has new thresholds for Italy and a few minor clarifications regarding the relevant filing thresholds.

Adelis acquires Westpack

Horten has assisted the Swedish private equity fund Adelis in the acquisition of a controlling stake in Westpack A/S.

New price regu­lation of surplus heat

On 1 January 2022, a new price regulation of surplus heat came into force. District heating companies may as a maximum include expenses for purchase of surplus heat equivalent to the lowest price of the substitution price or the price cap fixed by the Energy Agency.

EWII acquires the Inter­net provider Kviknet

Horten has assisted EWII with the acquisition of the majority of the share capital in the Internet provider Kviknet.dk. ApS.

Four new partners at Horten

Horten has admitted attorneys Peter Helbo Langsted, Maria Schmiegelow and Rune Halkjær Ebbesen as partners, and Emil Spurr Madsen as junior partner.

Founders of BullWall partners with Axcel

BullWall, a specialised provider of cybersecurity software, has accepted an offer from Axcel on a majority of the shares. Horten advised the shareholders on the transaction.

The Danish Data Protec­tion Agency intro­ducing new exter­nal whistle­blower scheme

The Danish Data Protection Agency has established a new external whistleblower scheme effective as of 17 December 2021

Adelis acquires PaaS company Pixelz

Horten has assisted the owner of the PaaS company Pixels with the sale to the Swedish private equity firm Adelis.

TDC Pensions­kasse sells youth resi­dences to Catella at a price of DKK 400 million

Horten has advised TDC Pensionskasse in connection with the sale of 225 youth residences to Catella.

New organisation of the re­cycling sector on the way

New rules on organisation of the Danish waste sector are on the way. The rules implement the climate plan for a green waste sector and a circular economy which the government has concluded with a majority of the parties in the Danish parliament.

New act entitles em­ployers to order em­ployees to produce a Corona passport and a negative COVID-19 test result

On 25 November 2021, the Danish parliament adopted a bill entitling employers to order employees to produce a Corona passport and a negative COVID-19 test result. The following is an overview of the new rules.

New Supreme Court ruling con­cerning unilate­rally obtained state­ments

In a recent Supreme Court ruling, the court decided whether a statement of loss prepared by the plaintiff’s auditor could be produced during legal proceedings. The Supreme Court found that it was an expert opinion obtained after the commencement of the legal proceedings and it was therefore not allowed.

New vertical block exemp­tion regu­lation is on the way

The so-called vertical block exemption regulation (VBER) determines which competition restrictions may lawfully be agreed in many distribution agreements. Consequently, the rules also affect many trading relationships. The present regulation came into force in 2010 and expires at the end of May 2022. We have prepared the below overview of what to expect from the new rules.

Danone sells Aqua d’Or Mineral Water to Royal Unibrew

Horten has advised Danone in connection with the sale of Aqua d’Or Mineral Water.

Maj Invest Equity new majority owner of N'Age ApS

Horten has advised Maj Invest Equity in connection with the acquisition of 55 % of the shares in N'Age ApS.

Fine of DKK 1.8 mill. to Konges Sløjd for binding resale prices

Konges Sløjd ApS has accepted a fine notice of DKK 1.8 million for having unlawfully asked a reseller to stick to the recommended retail price without giving any discounts.

New political agree­ment concer­ning regu­lation of the charging point market

New political agreement is to form the basis of amendments of the bill on regulation of the charging point market.

Confir­masoft Denmark acquires Indicia Danmark A/S

Horten has assisted the sell-side with the sale of Indicia Danmark A/S.

Christian Gregersen is new Managing Partner at Horten

Christian Gregersen has been appointed Managing Partner of Horten as of 1 January 2022.

Maj Invest equity acquires the majority interest in Genan Holding A/S from PKA

Horten has assisted Maj Invest Equity with the acquisition of 51 % of the shares in Genan Holding A/S. After the transaction, the pension company PKA will continue as the minority shareholder.

The EWII group’s acqui­sition of the power distri­bution network in Born­holm is complete

In May 2021, the Jutlandish/Funen energy group EWII acquired the power network in Bornholm - El-Net Øst - from Bornholms Energi & Forsyning. In the intervening period, the Energy Agency has approved the acquisition.

Two new partners strengthen Horten in Jutland

Corporate attorneys Jesper Madsen and Peter Istrup join Horten as new partners, both at the Aarhus office. This is part of Horten’s offensive growth strategy in Jutland.

New bill on sale of surplus heat sub­mitted for consul­tation

New rules are going to make it easier to sell surplus heat from e.g. data centres to collective heat supply plants.

Skybound invests in 5th Planet Games A/S

On 7 September 2021, American genre titan Skybound Entertainment carried out an investment in Danish mobile game developer and publisher, 5th Planet Games A/S. 5th Planet Games is listed on the Oslo Stock Exchange.

Avoid­ance of prepaid legal aid

In a new judgment, the Eastern High Court rules on avoidance of prepayments to a lawyer who examined the possibilities of restructuring the company.

Two new partners at Horten

Horten has admitted two new partners: Attorney Søren Toft Bjerreskov, specialist in company law, and attorney Alessandro Traina, who has wide experience within real estate M&A.

TDC Pensionskasse sells the property Formeriet

TDC Pensionskasse has sold the property Formeriet to the Catella European Residential Fund III for Euro 37 million.

Dawn Raid: Prepare for unan­nounced inspection visits

During the spring, a comprehensive amendment to the Competition Act provided extended access to carry out unannounced inspection visits (dawn raids). Horten’s Dawn Raid Guide will give you an overview of how to best prepare for dawn raids.

Swire Energy Services acquires ALL NRG

Swire Energy Services has acquired ALL NRG’s wind and solar division. Horten has assisted Swire Energy Services will all legal aspects of the transaction.

Muna Therapeutics concludes a series A round of EUR 60 million

The biotech company Muna Therapeutics obtains EUR 60 million equivalent to DKK 450 million in a series A round from Novo Holding A/S and an international investor consortium.

The legislative act on digital markets: Are you ready to go digital?

We provide you with a status of the European Commission's legislative proposal on digital markets. We will also describe how the legislative act on digital markets is expected to affect competition legislation within the area.

Klarna Bank AB estab­lishes a Danish branch

The establishment of a Danish branch is a crucial part of Klarna Bank AB's ongoing growth strategy and provides them with a foothold in the Danish market in order to further expand its business here.

Banque Inter­nationale à Luxem­bourg S.A. sells banking activities to Ring­købing Landbo­bank

Horten has assisted Banque Internationale à Luxembourg S.A. with its sale of the Danish banking activities to Ringkøbing Landbobank.

Riverside acquires Crypto­mathic

Horten has assisted the founders and management with the sale of the controlling stake in Cryptomathic to Riverside.

The Norwegian private equity fund Norvestor acquires Globeteam

Horten has assisted the Norwegian private equity fund Norvestor with the acquisition of the majority of the shares in the Danish IT consultancy firm Globeteam.

Folkespare­kassen merges with Middel­fart Spare­kasse

Horten has assisted Folkesparekassen with the merger with Middelfart Sparekasse.

New urban district in Aarhus achieves highest sustain­ability standard

Aarhus will have a new urban district with 70,000 m2 residences and business leases that meets the highest sustainability standard.

What are the costs of conducting litigation before the Danish courts?

The costs and considerations of conducting litigation in major related cases are always a relevant question for Horten’s clients. Below, we will answer the most common questions relating to costs.

Peek & Cloppen­burg acquires Magasin du Nord

Denmarks largest chain of department stores, Magasin du Nord, is sold to Peek & Cloppenburg group. Horten and Hengeler Mueller advised Peek & Cloppenburg in connection with the transaction.

Horten has assisted EWII with the acqui­sition of the electricity distri­bution grid on Bornholm

Horten has advised EWII and its wholly owned subsidiary, TREFOR Infrastruktur A/S, on all legal aspects of TREFOR’s acquisition of 100 % of the shares in El-Net Øst A/S from Bornholms Energi og Forsyning Holding A/S.

Clothing company acted contrary to the competition act

The Court of Aalborg has ruled that the clothing company Fusion ApS has acted contrary to the competition rules by fixing binding resale prices for a distributor. Fusion ApS has been fined DKK 500,000.

Piya Mukherjee is recognised in IFLR1000's new women leaders guide

As one among only nine Danish female lawyers, partner Piya Mukherjee is recognised as one of IFLR1000's ’Women Leaders'.

The capital fund Findos acquires Vilhelm Lauritsen Arkitekter

Horten has assisted the German private equity fund Findos with the acquisition of Vilhelm Lauritzen Arkitekter.

Fortum Waste Solutions OW A/S sold to Rinaldo Holding ApS

Fortum Waste Solutions A/S sold its wholly-owned subsidiary, Fortum Waste Solutions OW, to Rinaldo Holding ApS. Horten advised Fortum Waste Solutions A/S on all legal aspects of the transaction

Capital fund sells the bus company HB-Care to Dantaxi

Horten has assisted the capital fund CataCap with the sale of the bus company HB-Care to Denmark’s largest taxi company, Dantaxi.

Horten has assisted with the sale of True Energy A/S

Horten has advised the shareholders of True Energy A/S regarding the sale of the company's total share capital to the listed swiss company Landis+Gyr AG.

Pay-for-delay: Lundbeck’s patent settlements were unlawful

The European Court of Justice has ruled in the Lundbeck case and maintains fines of approx. EUR 146 million for the parties involved.

New act on unfair trading practices in agricultural and food supply agreements

A new act on unfair trading practices in agricultural and food supply agreements has been adopted and comes into force on 1 July 2021. Horten has assisted the trade organisation MLDK with the legal aspects of its work towards a sustainable market with framework and trading terms in the pre-legislative process.

New guidelines concerning the application of SKI 02.19

After the Complaints Board for Public Procurement expressed its concern in March concerning the legality of the SKI 02-19’s allocation model, the state and Kommunernes Indkøbscentral (SKI) published guidelines concerning the application of SKI 02.19 SaaS-Cloud.

Horten has assisted GEV Holdings Limited with the acquisition of Wind Power LAB ApS

Horten has in collaboration with Austin Moore & Partners LLP advised GEV Holdings Limited regarding the purchase of the total share capital in Wind Power LAB ApS.

Nasdaq Copenhagen (re)introduces SPAC listings

Following a strong market trend of increased use of SPACs, Nasdaq has today updated its Main Market Rulebook to allow for SPAC listings on Nasdaq Copenhagen.

Horten has assisted iCON Infrastructure with the acquisition of Wind Estate A/S

The infrastructure fund iCON Infrastructure has completed the acquisition of a 95% interest in the energy company, Wind Estate A/S. Horten has assisted iCON Infrastructure with all legal aspects in connection with the transaction.

New partner specialised in IT law

Jens Grønkjær Sjølander Pihl has joined Horten as partner.

Capidea acquires the majority of the shares in Obsidian Group

Horten has assisted Capidea with the acquisition of the majority of the shares in the digital agency Obsidian Group.

Horten in top 5 of IFLR's "Firm of the Year" shortlist

The recognised international rating publication IFLR has shortlisted Horten as one of the five best law firms in Denmark in its yearly "Firm of the Year” awards.

Screening of cross-border investments in M&A processes

Foreign direct investments regime in Denmark

Horten advises on the financing of the acquisition of the SER Hegn group

The acquisition is the last and crucial step towards fulfilling Heras' goal to become the leading player within perimeter protection in the Nordics.

Royal Reesink B.V. acquires Nicolaisen & Larsen A/S

Horten has assisted the Dutch company Royal Reesink B.V. with the acquisition of Nicolaisen & Larsen A/S

Horten advises on the first joint financing between the Danish Growth Fund and Silicon Valley Bank

Horten has assisted the Danish Growth Fund in providing financing to Danish growth company Leapwork A/S.

Horten has sold the business of Tripplex to Rockfon

Horten has sold the business of Tripplex to Rockfon. Bankruptcy proceedings were commenced against the company on 8 February 2021. Attorney Nicolai Dyhr was appointed trustee.

Horten advises Roger.ai in connection with their takeover by FLEETCOR

FinTech company Roger.ai has been subject to a takeover by the American company FLEETCOR, a worldwide leader in business payments. Horten has advised Roger.ai on the regulatory matters relating to the transaction.

Horten assists the owners of Humio in connection with the sale to CrowdStrike Holdings, Inc.

Humio is a log management platform offering developers, it- and security teams an overview in real time via logdata. The company’s customers include Microsoft, Bloomberg and the neo bank Lunar.

Danica and DSB conclude agreement on the development of Postbyen - Copenhagen central

Together with DSB, Danica is going to build 25,000 square metres of residential accommodation, office and retail in the centre of Copenhagen. Horten has advised DSB on the joint venture agreement.

Valtech SE acquires eCapacity A/S

Horten has assisted the global digital agency Valtech with the acquisition of eCapacity A/S.

Edtech company Labster in major investment round

Labster has announced the completion of a Series C investment round of more than DKK 350 million. The lead investor in the investment round was the Silicon Valley-based venture capital fund, Andreessen Horowitz.

Horten assists B&C International B.V. with the acquistion of UNIGgardin A/S

Horten has advised B&C International B.V. on the acquisition of the total share capital of UNIGgardin A/S.

Historic energy island in the North Sea

A wide majority of the Danish parliament has made a political agreement on an artificial energy island in the North Sea 80 kilometers from land. The largest construction project in the history of Denmark is now a reality

Horten assists with the sale of Hundested-Rørvig Færgefart A/S

Horten has advised the shareholders on the sale of the total share capital in Hundested-Rørvig Færgefart A/S.

Horten assists with the sale of Kaj Larsen A/S

Horten has advised the owner of Kaj Larsen A/S about the sale of the company to Executive Capital.

Horten advises Freja Ejendomme in property transaction

Freja Ejendomme has sold 4 building sites at Cortex Park in Odense.

Horten retains its recognition as the leading fintech law firm in Denmark

The international directory Chambers has published its Fintech Rankings for 2021 ranking Horten once again as the only Danish law firm in band 1.

Horten assists with the sale of Simonsen & Weel A/S

Horten has advised the owners on the sale of 100% of the shares in Simonsen & Weel A/S.

Horten has assisted the capital fund Polaris with the acquisition of Contour Gruppen

Horten has assisted Polaris with all legal aspects of the transaction.

Horten has assisted H+ARKITEKTER A/S with the acquisition of tnt arkitekter A/S

Horten has advised H+ARKITEKTER A/S on all legal aspects of the transaction

Horten has assisted Creativ Company A/S with the acquisition of AV Form A/S

Horten has assisted Creativ Company A/S, owned by the capital fund Capidea, with the acquisition of AV Form A/S.

Horten gets two new partners

Horten Advokatpartnerselskab has admitted specialist attorney Line Lundorff Brokholm as partner and senior attorney Jacob Pehrson as junior partner.

Horten has assisted the management with the sale of 34 % of the shares in Fiberline Composites

The Dutch bank ABN Amros Energy Transition Fund has acquired 34 % of the shares in the Danish manufacturer of composites, Fiberline Composites.

Horten has assisted with the sale of the activities of Skinetworks a/s in bankruptcy

On Friday 27 November 2020, Skinetworks A/S was declared bankrupt, and attorney Nicolai Dyhr, Horten, was appointed trustee together with attorney Troels Tuxen, Bech Bruun.

Horten assists with the investment in Sustainable Bio Solutions Aabenraa K/S

Horten has advised the owners of Sustainable Bio Solutions Aabenraa K/S (“SBSA”) in connection with the investment in SBSA by Arjun Infrastructure Partners

A-Huset sold to Highbrook Investors

An international group of investors has sold the iconic Copenhagen property A-Huset. Horten was lead legal advisor to the sellers.

Klarpris A/S sold to Adelis

Horten has assisted the Swedish capital fund Adelis with the acquisition of the shares in the technology company KlarPris A/S.

Horten assists Lunar with capital injection of more than EUR 36 million

The challenger bank Lunar receives capital injection of more than EUR 36 million from both existing and new investors. Horten has assisted Lunar in the process.

Horten assists with the sale of Dan-Form A/S

Horten has provided legal advice to the owners of the design and manufacturing company Dan-Form A/S in connection with the sale of 70% of the shares to the Swedish investment firm Röko AB.

Horten assists private equity-owned Idverde with the purchase of OKNygaard A/S

Horten has provided legal advice to private equity-owned Idverde with the acquisition of OKNygaard A/S.

Horten assists Actimo with the sale of company to Kahoot!

Horten has provided legal advice to the sellers of Actimo which transfers 100 % of the shares in Actimo ApS to Kahoot! for a three-digit million amount.

The Danish FSA updates information on UK applications in anticipation of Brexit

The Danish FSA encourages companies from UK that want to be able to continue to provide investment services and activities after the expiration of the transitional period, to send their application.

Largest tender procedure concerning cloud infrastructure in Denmark

Horten has assisted the City of Copenhagen with the largest tender procedure so far concerning cloud infrastructure in Denmark.

Horten assists with the sale of the MBL Group to INVL and the related refinancing

Horten has acted as legal adviser to the owners of the MBL Group in the sale to INVL.

IFLR1000 recognises 15 Horten partners

The international directory IFLR1000 recently published its Rankings for 2020. IFLR recognises 15 Horten partners as leading within their areas of expertise.

Horten assists with sale of Modstrøm to capital fund

Horten has assisted the climate-friendly energy company Modstrøm with the sale of the company to the capital fund Waterland Private Equity.

Horten assists with partial sale of Inviso to Devoteam

Horten has assisted the founders of the data consulting house Inviso in connection with the sale of 70 % of the company to the France-based consulting house Devoteam.

The Edtech company Labster announces investment round

Labster has announced the completion of yet another investment round of USD 9 million. Horten has advised the Edtech company on all legal aspects of the capital procurement.

Horten advises LHI Group in its purchase of Danish photo voltaic plant

Horten has advised the German investment management company, LHI Group, in all legal aspects of the purchase of the photo voltaic (PV) plant Solar Park Hanstholmvej.

New CEO for Horten

Horten is pleased to announce Tine Kaspersen as new CEO as of August 3rd 2020.

Consider the arbitration clause

Many contracts contain an arbitration clause, but it may be difficult and expensive to have a dispute settled if the arbitration clause is not worded correctly.

When the cooperation and the contract come under pressure

COVID-19 has given rise to many predictions about the economic temperature of Danish trade and industry. But how should you act as a company if your cooperation partners come under economic pressure, become distressed or even go bankrupt?

Horten has assisted I/S Vestforbrænding with the acquisition of Lyngby Kraftvarmeværk

Horten has assisted the management of I/S Vestforbrænding with the acquisition of Lyngby Kraftvarmeværk from a company in the Henrik Lind group.

When contracts become international

We will review six areas within international contracts where the risks are different from the risks normally characterising Danish contracts.

Horten recruits new CEO from BIG - Bjarke Ingels Group

39-year old Tine Kaspersen takes over the chief executive position at Horten, one of Denmark’s largest law firms. Tine Kaspersen comes from a position as the COO of BIG - Bjarke Ingels Group, and before that, she was employed with Mærsk Line.

Horten has assisted NORD.investments A/S with a capital injection

Horten’s fintech team has assisted NORD.investments A/S with its recent successful capital provision.

Horten advising on UEFA EURO 2020 and Tour de France Grand Départ 2021

In the summer of 2021, the City of Copenhagen will host both UEFA EURO 2020 and Tour de France Grand Départ. Horten has advised the City of Copenhagen in this connection.

The European Commission approves state aid for the Fehmarn Belt Fixed Link

In a new decision, the European Commission finds that the state aid for the Fehmarn Belt Fixed Link is compatible with the Internal Market.

International study on Force Majeure

The study "International Definitions of Force Majeure AMID COVID-19" includes up-to-date information on the legal definition of force majeure in each of the contributing countries.

Horten recognised as leading law firm by Legal 500

The new rankings reinforce Horten’s position as one of the leading law firms in Denmark.

Horten has assisted with the sale of daily and local newspapers

In a rapid procedure, Horten has assisted with the sale of the daily newspaper and the nine local newspapers.

Horten has assisted with the acquisition of Jacob Kongsbak Lassen

Horten has assisted a group of investors consisting of the wholesale business Kalu A/S and Skagerak Fiskeeksport A/S with the acquisition of Jacob Kongsbak Lassen from the bankruptcy estate.

Horten assists with establishing the Dai Foundation

Lunar gets capital injection of DKK 150 million

Bank challenger Lunar gets capital injection of DKK 150 million from both existing and new investors. Horten assisted Lunar in the process.

Horten advises Bain & Company in their acquisition of the Qvartz group

Horten has assisted Bain & Company with all legal aspects of the acquisition of primarily Qvartz's Nordic businesses.

Directors' and officers' liability during the corona crisis

The Corona crisis is rapidly getting a grip on Danish businesses. It is therefore important for directors to exercise due care and ensure documentation of the decisions made.

Useful tips for distressed companies during the COVID-19 crisis

Five tips for corporate directors to navigate distressed companies through the COVID-19 crisis.

Horten assists with the sale of Grazper Technologies to Yokogawa Electric Corporation

The Danish technology company Grazper Technologies has been sold to Yokogawa Electric Corporation.

Compen­sation for businesses’ overhead expenses in the period 9 march - 9 june 2020

We give you an overview of which businesses are liable for compensation of overhead expenses related to COVID-19 and how they can apply.

COVID-19's consequences for the construction sector

The construction sector is also affected by the COVID-19 situation. Below, we will give our views on how COVID-19 may be characterised as force majeure within the meaning of AB92/AB18, including the consequences in terms of time and finance.

Coronavirus status – business as usual at Horten

COVID-19, also known as the coronavirus, has spread across the world and has also hit Denmark hard. At Horten Law Firm, we wish to protect our clients and employees during the current coronavirus outbreak.

Spirit Energy sells its Danish oil activities to INEOS

Horten has assisted Spirit Energy with all legal aspects of the sale of its Danish oil activities and its share of the Hejre and Solsort fields to INEOS.

New attorney to Energy, supply & infrastructure

Horten has reinforced the Energy, supply & infrastructure team with attorney Andreas Schønbeck.

New judgments concerning personal restructuring proceedings

The bankruptcy court recently affirmed compulsory compositions in two restructuring proceedings concerning personal debtors that were non-traders.

New IP partner at Horten

Jakob Krag Nielsen is specialised in trademark and patent law, and he is to ensure that Horten continues to maintain its historic and recognised market position within IP and Tech.

Horten contributes to Chambers Investment Funds 2020 Guide

Partner Claus Bennetsen has contributed with the chapter on “Denmark” to Chambers Investment Funds 2020 Guide.

New housing policy agreement

In continuation of the debate on initiatives to prevent short-term investments on the private property rental market, the government, the Socialist People's Party, the Red-Green Alliance, the Alternative and the Danish People's Party entered into a new housing policy agreement.

Non-solicitation clause in shareholders’ agreement was invalid in relation to employed minority shareholder

A non-solicitation clause in a shareholders’ agreement was not applicable vis-à-vis an employed minority co-owner covered by the Salaried Employees Act as the clause did not fulfil the requirements of section 18 a of the Salaried Employees Act applicable at the time in question.

Fundamental ruling on fit & proper requirement

In a recent ruling, the Supreme Court has decided on the scope of the fit & proper requirement for management members of financial companies for the first time.

Horten recognised as the leading fintech law firm in Denmark

The international directory Chambers recently published its Fintech Rankings for 2020 ranking Horten as the only Danish law firm in band 1. Partners Mikkel Primdal Kæregaard and Lars Lüneborg are recognised for their expertise within the Fintech area.

Two new Horten partners

Horten has admitted Bo Christensen as Junior Partner and René Frisdahl Jensen as Partner.

The transition away from IBOR rates

We take a closer look on the impact that the transition away from the IBOR rates will have on Lenders, Borrowers and Investment Funds, after the new European reference rate €STR (Euro Short-Term Rate) was published for the first time on 2 October 2019.

The purchase option scheme is phased out, and new schemes are introduced for adjoining properties of renewable energy plants

A political agreement has been made concerning phasing out of the present purchase option scheme, change of the value reduction scheme and establishment of three new schemes to improve the conditions of the affected citizens.

Compensation for loss of commission during holiday

Recently, the Supreme Court decided on the reference period to be applied when calculating compensation for loss of commission during holiday to an employee paid on a commission basis.

Employer not liable for compen­sation for work-related mental injury

On 6 November 2019, The Western High Court acquitted an employer of liability to pay compensation in a case of an unskilled employee’s mental illness as a consequence of working at a school with pupils with problem behaviour.

New national network for asset management

Horten has contributed to establishing the new national network for assets management called Asset Management Danmark. The association’s statutory general meeting took place on 4 November 2019.

When may a trustee be replaced?

In a new ruling from the Maritime and Commercial High Court, it was established that the creditors were not entitled to appoint a new trustee as there were no prospects of dividend to creditors with unsecured claims.

Employee obligated to contribute to securing the employer’s refund of sickness benefits

In a recent ruling, The Supreme Court decided that it is a part of the duty of loyalty to contribute to ensuring that the employer receives refund of sickness benefits. However, the employee was not found liable for compensation in this case, since it was not a case of gross negligence.

IFLR1000 recognises 12 Horten partners

The international directory IFLR1000 recently published its Financial and Corporate Rankings for 2020, and Horten has improved its rankings.

New partner at Horten: Jan Bech

Attorney Jan Bech has joined Horten as partner and will be part of Horten’s Restructuring & Insolvency team. Jan will be located in Aarhus.

Piya Mukherjee is the new president of INSOL Europe

Piya Mukherjee, partner and head of Horten’s Insolvency and Restructuring team, has been appointed president of INSOL Europe.

Hofor acquires 20 MW solar park

Horten has assisted Hofor with the acquisition of a 20 MW solar park at Kikkenborg from Better Energy.

Letters of comfort - when are they binding?

The wording of a letter of comfort determines whether it is binding on the issuer. A recent judgment concerning FC Vestsjælland’s bankruptcy emphasises that letters of comfort may have significant financial value.

Capital Four concludes financing agreement with PayPerWash

Horten has assisted PayPerWash with the conclusion of a financing agreement of up to DKK 600 million to support the company’s Nordic and international growth strategy.

Horten assists with the sale of Daintel to Cambio Healthcare Systems

New partner at Horten: Nicolai Thornemann

Attorney Nicolai Thornemann has joined Horten as partner and will be part of Horten’s Restructuring & Insolvency team.

Horten assists with the sale of Sonlinc A/S to EG A/S

On 2 September 2018, the Danish market leader within software to the supply sector, Sonlinc A/S, was sold to the IT and consultancy firm EG A/S.

PensionDanmark Ejendomme acquires Chr. Hansen A/S’ office building in Hørsholm

Horten has assisted PensionDanmark Ejendomme with the acquisition of Chr. Hansen A/S’ office building in Hørsholm.

Medicinal cannabis added as registered goods under the Nice classi­fication system

There is good news for those working with medicinal cannabis. From 1 January 2020, medicinal cannabis will officially be added as registered goods under the Nice classification system.

Lunar Way gets capital injection of DKK 195 million

The Danish company Lunar Way has received DKK 195 million from both existing and new investors to continue the company’s expansion in the Nordic region. Horten has assisted Lunar Way in the process.

Nature Energy acquires Bånlev Biogas

Nature Energy Biogas acquired Bånlev Biogas. Horten has assisted Nature Energy in connection with the acquisition.

The Danish Data Protection Agency’s planned supervision in the second half of 2019

The Danish Data Protection Agency has published its focus areas for the second half of 2019. The supervisions are aimed at both the public and private sector.

The former management of Amagerbanken must pay multi-million compensation

Eastern High Court: Eight out of 11 former members of the management of Amagerbanken were ordered jointly and severally to pay compensation of DKK 225 million with the addition of interest and costs for one material loss-making transaction in relation to a major client.

Piya Mukherjee is recognised in IFLR1000’s new Women Leaders Guide

As one among only four Danish female lawyers, partner Piya Mukherjee is recognised as one of IFLR1000's "Women Leaders".

Falck pays compensation for violation of competition rules

Falck has made a settlement with the South Denmark Region, BIOS’ Dutch owners and the bankruptcy estate of BIOS in Denmark

Loss of commission during holiday compensated

The Maritime and Commercial High Court ruled in three fundamental cases concerning compensation for loss of commission during holiday. The court attached importance to the fact that the possibility of earning commission was in fact conditional on the employee’s physical presence at the work place.

New require­ments for remune­ration policy and remuneration reports

On 10 June 2019, an act implementing the amendments in the Shareholder Rights Directive came into force. One of the most important amendments is that listed companies must prepare and publish a remuneration policy and a remuneration report for executive members in the future.

Horten achieves unique distinction within patent law

The international guide of the world’s best law firms within patent law, IAM Patent 1000, has nominated Horten as the leading law firm in Denmark within patent law.

The European Court of Justice: Member States must ensure tracking of staff working hours

Recently, the European Court of Justice ruled that employers must establish a system to accurately track the working hours of their staff to ensure observance of the EU Working Time Directive.

Horten assists E.ON Sverige AB with the acquisition of Coromatic Holding AB

E.ON has entered into a purchase agreement with EQT to buy 100 % of the shares in Coromatic Holding AB.

First Danish company approved for manufacturing of medicinal cannabis

The Danish Medicines Agency has just granted Spectrum Cannabis licence to manufacture medicinal cannabis. Spectrum Cannabis is the first Danish company to be approved.

Aptean acquires Optiware

The American software company Aptean has purchased the Optiware group.

Market dialogue concerning a technology neutral tender in 2019

The Danish Energy Agency will host a market dialogue concerning draft tender specifications for the technology neutral tender in 2019. In the tender, wind turbines and solar cells will compete to deliver the most green power in the cheapest possible way.

Horten assists Cabonline with the acquisition of 4x27

Horten has advised the Swedish taxi giant with the acquisition of Denmark’s second-largest taxi company 4x27.

The Exclusive Rights modernised in a new agreement

Together with Dansk Undergrunds Consortium (DUC), the Government has concluded an agreement on modernisation of the Exclusive Rights. The agreement implies that a number of special rights in the original agreement from 1962 with subsequent changes will be normalised.

Legal 500: Horten recognised as leading law firm

Legal 500 recognizes Horten as one of Denmarks leading law firms in the 2019 edition of the international law firm directory.

The Danish Health Data Authority publishes final figures concerning the use of medicinal cannabis in 2018

The Health Data Authority has now published the number of prescriptions written out and presented concerning medicinal cannabis in 2018.

Horten assists Findos with the acquisition of Ball Group from Axcel

Horten has advised Findos Investor GmbH in connection with the acquisition of Ball Group ApS from the capital fund Axcel.

Surplus wind and solar energy can be stored in the natural gas network

A new analysis from Energinet shows that PtX plants may increase already from the 2020's. PtX systems may improve the exploitation and storage possibilities of renewable electricity.

How can energy regulation promote a green and renewable gas sector?

The Council of European Energy Regulators (CEER) is holding a public hearing to identify what energy regulation can do to promote the development of a green and renewable gas sector.

New act to guarantee rights in case of hard Brexit

On 19 March 2019, the Danish parliament adopted the ‘Act to extend certain rights in connection with the United Kingdom’s withdrawal from the European Union without an agreement’. The Act is to ensure that British and Danish citizens having exercised the right to move freely between Great Britain and Denmark will enjoy the same rights as hitherto in a transition period.

Recommended GDPR fine of DKK 1.2 mill. to Danish taxi company

The Danish Data Protection Agency recently reported Taxa 4x35 to the police due to the taxi company’s failure to observe the rules of the GDPR. At the same time, the Agency recommended a DKK 1.2 mill. fine to be imposed on the taxi company.

New WEA guidelines to prevent harassment of employees

The Working Environment Authority (the “WEA”) has introduced new guidelines concerning harassment at the workplace. The guidelines, which also cover bullying and sexual harassment, describe what constitutes harassment, and how the employer can prevent harassment.

Dismissed for refusing to dance around the Christmas tree and to work on a Saturday

The Board of Equal Treatment has concluded that two teachers were wrongfully discriminated against due to not wanting to compromise their religious belief.

Public funds to local fitness centres are not state aid

In June 2017, the European Commission found that (i) aid from the Danish Lottery is not state resources and (ii) aid granted by municipalities to local fitness centres did not affect trade between member states. The Commission concluded that the aid did not constitute state aid.

New bill to abolish entrepreneurial companies and reduce the capital requirement for LTDS

On 28 February 2019, the Danish parliament introduced a bill (L 190) to abolish the entrepreneurial corporate form and to reduce the capital requirement for private limited companies.

Denmark’s largest offshore wind farm to be situated in the North Sea

The parties behind the Energy Agreement have decided that Denmark’s largest offshore wind farm is to be situated in the North Sea. The offshore wind farm - called Thor - will supply electricity to 800,000 Danish households. The offshore wind farm will be put out to tender in 2019 and be connected to the electricity supply grid in the period 2024-2027.

Preliminary judgments in Danish cases concerning beneficial ownership

On 26 February 2019, the European Court of Justice decided on the question whether withholding tax is to be paid on interest and dividend paid by Danish companies to companies domiciled in other member states.

Chambers nominates Horten as Greenland expert

The recognised international ranking agency Chambers has ranked Horten as one of the country’s leading law firms specialised in the conditions prevailing in Greenland.

Tour de France will start in Denmark in 2021

At the beginning of July 2021, Denmark will host three stages of the Tour de France. Horten has assisted with the legal framework of the greatest sports event ever in Denmark.

Reform of copyright rules on the way

The so-called copyright directive is one step closer to adoption after the breakthrough of last week’s negotiations when the European Parliament, the Commission and the Council agreed to adjust the copyright rules.

Amendment to act is going to ensure stay in Denmark in case of no-deal Brexit

The Danish government has submitted a bill for consultation to ensure that a number of EU rights will continue to apply to British citizens staying in Denmark under the EU rules on free movement if Great Britain exits the EU without a deal.

Top ranking for Horten in WTR1000

World Trademark Review 1000 have just released their 2019 rankings. Horten has once again achieved a top ranking.

Maj Invest Equity invests in Wendelbo Møbel Design

Maj Invest Equity has entered into a partnership with the Wendelbo family in connection with the company’s purchase of the majority of the shares in Wendelbo Møbel Design A/S. Horten has advised Maj Invest Equity in connection with the acquisition.

New partners at Horten

Horten is joined by attorneys Thomas Booker and Jesper Petersen Bach as partners.

Continued interest in exploration of oil and gas in the North Sea

Four companies have applied for licences from the Danish Energy Agency for exploration and extraction of oil and gas in connection with the 8th licensing round in the North Sea.

Bill to amend the Anti-Money Laundering Act concerning virtual currencies put up for consultation

On 17 December 2018, the Ministry of Business put up a bill for consultation to amend the Anti-Money Laundering Act. The bill proposes that the Act’s scope is extended to cover bureaus exchanging virtual currencies and fiat currencies and providers of virtual wallets.

No Brexit deal - what now?

The UK is leaving the EU on 29 March 2019 without a deal regulating the exit terms. This means that the UK is no longer considered an EU or an EEA Member State after that date, but a third country, unless a deal is made on a postponement of the UK’s exit.

The European Commission: Tax advantages for harbours may constitute state aid

According to a press release of 8 January 2019, the European Commission has requested Spain and Italy to ensure that their taxation of harbours comply with the state aid rules. Consequently, harbours in Spain and Italy must pay corporate tax on the same terms as other businesses.

Groundbreaking repeal of a PI in a patent case

On 20 December 2018, the Danish Maritime and Commercial Court repealed a preliminary injunction relating to a supplementary protection certificate while the appeal was pending at the High Court.

Horten assists on another major oil and gas transaction in the North Sea

A team from Horten headed by partner Christian Tullberg assists SHV Holdings, a family-owned multinational, on the Danish aspects of the merger of Dyas Holdings B.V. (Dyas) with Oranje-Nassau Energie B.V. (ONE), in a combined entity called ONE-Dyas.

The European Commission’s state aid approval in the Fehmarn case has been cancelled

The European Commission's assessment as to whether Denmark has granted illegal state aid to the Fehmarn Belt fixed link is “inaccurate” and “insufficient”. This was the conclusion of the General Court on 13 December 2018.

New EU legislation on cybersecurity on the way

On 10 December 2018, the European Parliament, the European Council and the European Commission agreed on new legislation to strengthen cybersecurity within the digital single market.

Bill to amend the Share Options Act adopted

On 6 December 2018, the Danish parliament adopted the bill to amend the Share Options Act, which results in two material changes in the legal position.

Horten is recognised in Chambers’ new Fintech category

The international directory Chambers recently published its Fintech Rankings for 2019 ranking both Horten and partner Mikkel Primdal Kæregaard.

Maj Invest Equity acquires the majority of shares in Roll-o-Matic A/S

With effect from 29 November 2018, the private equity fund Maj Invest Equity has acquired 75 % af the shares in Roll-o-Matic A/S by the private equity fund Blue Equity. Horten assisted Maj Invest Equity in connection with the transaction.

Decision to establish the Baltic Pipe

Energinet and the polish company GAZ-SYSTEM have made positive investment decisions in relation to the joint Baltic Pipe project. This was announced in Warsaw on 30 November 2018. Horten assisted Energinet on the negotiations.

Horten has assisted Arkitema with the sale to COWI

Horten has assisted Denmark’s largest architecture firm Arkitema in connection with the transfer to the advisory business COWI for a three-digit million amount.

Attractive share savings account will become an option at the turn of the year

The Ministry of Tax has presented a bill concerning introduction of a share savings account and thereby indirectly improving the commercial conditions of Danish businesses. The bill is proposed to take effect on 1 January 2019.

Difficult to enforce arbitration awards in Russia

Companies are recommended to take a closer look at their contracts with russian parties.

GDPR and employment relationships

On 26 November 2018, the Data Protection Agency published a guidance on data protection in relation to employment relationships. The guidance reviews the most common problems in relation to the general data protection regulation and employment relationships.

New book: Inherent Powers of Arbitrators

The book provides various perspectives on the concept of inherent powers in international arbitration and includes contributions from several distinguished authors. Attorney Daniel Haue Jakobsson has contributed to the book with a chapter on Inherent Powers of Arbitrators to Deal with “Guerrilla Tactics”.

Greenland launches historically major investment in airport infrastructure

A majority in the Greenlandic parliament, Inatsisartut, has passed an act on historically major investment plan to construct and establish Greenland airports.

Horten contributes to the first ever edition of The Legal 500: Fintech Country Comparative Guide

Horten's Fintech experts have written the Danish chapter in the first ever edition of The Legal 500: Fintech Country Comparative Guide.

IFLR1000 recognises Horten partners

The international directory IFLR1000 recently published its Financial and Corporate Rankings for 2019. These rankings were good news for Horten, as we have increased the number of partners ranked as Leading Lawyers within their areas of expertise.

Henrik Stig Lauritsen is new partner at Horten

Horten has admitted Henrik Stig Lauritsen as equity partner and head of the Taxes and Duties team.

Horten partner gets top position in International Bar Association (IBA)

Congratulations to Horten partner Lise Lotte Hjerrild who has been appointed as member of IBA’s Legal Practice Division Council with effect from 1 January 2019.

Obligation to recover illegal state aid

Advocate General Wathelet states in a draft judgment from the European Court of Justice that the national authorities are obligated to recover illegal state aid.

Amendment of the Directive on posting adopted

The European Parliament and the European Council have adopted amendments of the Directive on posting which came into force on 29 July 2018. The amendments must be implemented in the Member States no later than 30 July 2020.

Admission to the NextGen Leadership Program

Bo Christensen, attorney with Horten's restructuring and insolvency team, has been admitted to the International Insolvency Institute’s (III) NextGen Leadership Program 2018.

Horten at IBA

Meet us at the IBA Annual conference in Rome from 7th to 12th October 2018.

Amendment of the Subsoil Act: Expansion of the financial liability for decommissioning

The Danish government proposes an amendment of the Subsoil Act, which expands the secondary financial liability for costs in connection with decommissioning of offshore facilities.

Debate on cryptocurrency and insolvency in Athens

Cryptocurrencies, ICO’s and other tokens are the subject of debate at INSOL Europe’s yearly conference on 4-7 October in Athens. Piya Mukherjee, partner and head of Horten’s restructuring and insolvency team, is running the panel debate concerning the many challenges of these new digital assets.

The Danish Data Protection Agency specifies practice concerning encryption of e-mails

As of 1 January 2019, all e-mails containing confidential or sensitive personal data must be encrypted. In a ned guide, the Danish Data Protection Agency has specifies how this is to be enforced.

PFA and Topdanmark purchase four-star hotel at Carlsberg Byen

PFA and Topdanmark join forces and purchase an exclusive hotel for a three-digit million amount. Both parties are already co-owners of the development company Carlsberg Byen P/S. Horten has advised both purchasers on the transaction.

Horten moves to new address in the centre of Aarhus

From 1 January 2019, Horten will be welcoming clients at new premises at Frederiks Plads in Aarhus.

Danske Slagtermestre brings action concerning state aid and waste water charges

The trade organisation Danske Slagtermestre has brought an action before the General Court regarding the European Commission's decision of 18 April 2018 stating that a Danish discount scheme for waste water charges did not constitute state aid.

Possible change of the Directive on product liability on the way

The European Commission has proposed a possible change of the Directive on product liability. The change implies an update of the important definitions concerning “manufacturer”, “product”, “defect”, “injury” and “burden of proof”.

The Maritime and Commercial High Court: Road line consortium was unlawful

The Maritime and Commercial High goes against the Competition Council’s and the Competition Appeals Board's decisions: Consortium agreement between Eurostar Danmark and LKF Vejmarkering is legal.

Summit Partners invests in OnRobot

The global capital fund Summit Partners has invested a three-digit million amount in the robot company OnRobot. Horten has assisted Summit Partners in connection with the transaction.

Danish patent judges in new hands-on approach

No infringement held in case between former business partners after inspection of the products at-issue by both the court-appointed experts and the court.

The Energy Board of Appeal changes termination of reservation concerning Skagerrak 4

The Energy Board of Appeal has made a decision in a complaint concerning the Energy Regulatory Authority’s termination of Energinet’s reservation of capacity at the transmission system Skagerrak 4 between Norway and Denmark. Horten has advised the Norwegian power companies Lyse Produksjon AS and Statkraft Energi AS in connection with the complaint.

Horten assists Scandza with the purchase of Bodylab and Nutrinord

Scandza has purchased the Danish fitness and sports nutrition brand, Bodylab, from the founder, Rasmus Thorup Andersen. Horten adviced Scandza on all legal matters throughout the acquisition process.

Bill to amend the Share Options Act put up for consultation

Recently, the Ministry of Employment put a bill to amend the Share Options Act up for consultation. The bill is based on one of the initiatives in the business and entrepreneur agreement concluded in 2017. If the bill is adopted in its present form, it will radically change the employees’ right to purchase and subscribe shares in connection with termination of the employment.

Utility companies face fines for non-compliance with the mandatory merger control

Two Danish utility companies have received fines of DKK 8 million for implementing a notifiable merger in 2012 without filing the compulsory merger notification.

Gislev Rejser sold to Aller group

Horten assisted the family-owned travel company Gislev Rejser with the sale to Aller Leisure, which will take over 85 % of the travel company.

Broad political majority behind green energy agreement

On 29 June 2018, the government concluded a green energy agreement with all parties in the Danish parliament. The agreement contains ten initiatives to meet the government’s ambitions for Denmark to be a low-emission country in 2050.

Best Lawyers recognises 17 attorneys at Horten

A number of Horten’s attorneys are mentioned in this year's edition of Best Lawyers.

Horten launches digital tender platform

Horten launches a digital tender platform where all clients can easily and intuitively carry out the entire tender procedure at www.udbuddet.dk.

Horten assists Neptune Energy Group on major E&P transaction in the North Sea

Neptune Energy Group has entered into a Sale and Purchase Agreement to acquire 100 % of the shares in VNG Norge AS from the German natural gas wholesaler and energy service provider, VNG AG.

Horten assists PensionDanmark with the purchase of science park

Horten has assisted PensionDanmark with the purchase of the science park CORBIS in Copenhagen for DKK 325 m.

Strong tax profile to Horten

Horten continues its growth strategy with yet another new partner. Henrik Stig Lauritsen joins Horten’s tax team as partner.

Horten is growing

Horten Advokatpartnerselskab opens an office in Jutland and is ready to gain market shares. Horten expands with five new partners and more than 70 employees as part of Horten’s growth strategy.

New corporate law in Greenland

The Limited Liability Companies Act adopted by the Greenlandic Parliament will enter into force on July 1, 2018.

Nykredit Bank finances acquisition of Kongskilde Industries A/S

Horten has assisted Nykredit Bank with the financing of the acquisition and operation of Kongskilde Industries A/S.

The Data Protection Agency interprets new EU judgment on data responsibility for Facebook fan pages

On 5 June 2018, the European Court of Justice (ECJ) ruled in a case (C-210/16) concerning data responsibility for Facebook fan pages. In this connection, the ECJ published a statement on 13 June 2018 in which it reviewed the judgment and how it may affect future judgments.

Patent law : Horten achieves unique distinction

The international guide of the world’s best law firms within patent law, IAM Patent 1000, has nominated Horten as the leading law firm in Denmark within patent law. Further, Senior Counsel Ole Damsbo is nominated the honorary title “Luminary”.

Selective distribution: Rejection of repairer inconsistent with the competition rules

According to the Danish Maritime and Commercial Court's judgment of 20 March 2018, Nissan's rejection of admitting Daugaard Biler as an authorised repairer was inconsistent with the competition rules. A fundamental breach of the car distribution agreement did not entitle Nissan to reject Daugaard Biler as an authorised Nissan repairer.

Failure to register with RUT may be penalized with daily default fines

Effective from 1 July 2018, the Danish Working Environment Authority have wider options to penalise companies failing to comply with a demand for registration with the RUT register.

Strengthened and simplified promotion of trade and industry

The government and the Danish People's Party have concluded a political agreement concerning a strengthened and simpler promotion of trade and industry with strong municipal anchoring.

The ECJ: Termination of cooperation agreement was not unlawful gun jumping

The European Court of Justice (ECJ) found that KMPG DK’s termination of a cooperation agreement with KPMG International prior to the Competition Council’s approval of a merger with Ernst & Young was not gun jumping.

The Western High Court: Elsam did not deliberately violate the competition act

The High Court ruled that the competition authorities had not substantiated with sufficient certainty that Elsam had abused its dominant position.

Insepa A/S sells 40 % of Beck Pack Systems A/S to Kirk Kapital A/S

On 17 May 2018, Insepa A/S concluded an agreement concerning sale of 40 % of Beck Pack Systems A/S and Cartolit A/S to Kirk Kapital A/S.

New EU practice concerning abuse of a dominant position and discrimination

In a recent judgment concerning abuse of a dominant position, the European Court of Justice (ECJ) considered the question as to when a dominant company’s differentiated prices to trading partners constitute abuse.

Jyske Bank supports merger of Nordjyske Bank and Ringkjøbing Landbobank

Jyske Bank (listed on Nasdaq Copenhagen under the symbol: JYSK) announced the decision to support the merger of Nordjyske Bank and Ringkjøbing Landbobank published by the boards of directors of the two banks on 18 April 2018.

Chairman of the board of directors is not liable for the loss in connection with the Eurovision Song Contest

The Company Appeals Board: The former chairman of the board of directors of Wonderful Copenhagen is not liable for the loss that arose as the Eurovision Song Contest became more expensive than expected.

Government proposal: Energy must be more green and cheaper

Recently, the government made a new energy proposal aiming at minimum 50 % renewable energy in 2030 and cheaper energy to the citizens and the community.

Nature Energy sells market business

The Nature Energy group concluded an agreement with Energi Fyn concerning sale of the part of the Nature Energy group selling gas to private customers and companies (NGF Nature Energy A/S). Horten has advised NGF on all legal aspects in connection with the sale.

The act on trade secrets has been adopted

The parliament has adopted the bill on trade secrets, which will come into force on 9 June 2018.

The Competition Appeals Board: Trade agreement concerning camping pass was illegal

The Competition Appeals Board affirmed the Competition Council's decision concerning the Camping Council’s and DK-CAMP’s violation of the Competition Act by having concluded an agreement concerning camping passes. The Competition Council has reported the matter to the police.

Legal 500 recognises Horten as leading law firm

Horten is recognised as leading law firm within a wide range of legal disciplines. At the same time, 26 partners are nominated as being among the best legal advisers in Denmark.

Horten introduces its own TV studio

Video transmission is an obvious media for presenting the law at eye level, and Horten has therefore set up its own TV studio.

Recent High Court judgments reject “luxury debt restructuring”

In two judgments, the Eastern High Court recently rejected restructuring of personal debtors with reference to the fact that the proposed compulsory composition was contrary to the purpose of the rules on restructuring.

IP Stars: Horten is the leading adviser within patents and trademarks

The leading international guide to the best IP companies and advisers, IP Stars, has nominated Horten among the leading advisers in Denmark within patents and trademarks.

Research project concerning digital construction law

For the next four years, Horten will be participating in the research project Digital Construction Law at the University of Copenhagen.

Pregnant woman did not have a preferential right or a claim for relocation

The European Court of Justice (the ECJ) has ruled that a pregnant woman who was dismissed in connection with mass redundancies did not have a preferential right to stay employed with the company or to be relocated under EU law.

The Supreme Court approves flexible agreements concerning provision of security to bankruptcy estates

Prior to bringing legal action, a bankruptcy estate and a creditor had agreed on payment of security in relation to the action. The creditor provided security for the costs of the action against payment of 50 % of any proceeds from the outcome of the action. The Supreme Court found that there was no basis for setting the agreement aside.

Unique distinction within patent law for Horten

The international guide of the world’s best law firms within patent law, IAM Patent 1000, has nominated Horten as the leading law firm in Denmark within patent law. Further, Senior Counsel Ole Damsbo is nominated the honorary title “Luminary” as the only Dane.

Fines to cartels within the car industry turn focus on applications for relief of fines

In three separate decisions, The European Commission has imposed fines of more than EUR 540 million on a number of players within the car industry. At the same time, three cartel members obtained relief of fines due to their roles in relation to exposing the cartels.

Nature Energy’s gas network sold to Energinet

NGF Nature Energy Holding A/S and Energinet have concluded an agreement concerning sale of NGF Nature Energy Distribution A/S to Energinet .

Funen municipalities sell Nature Energy

Eight municipalities in Funen have sold the commercial activities of the Nature Energy after 40 years of municipal ownership.

Jyske Bank makes tender offer to Nordjyske Bank shareholders

Today, Jyske Bank announced the decision to make a tender offer to purchase all outstanding shares in Nordjyske Bank.

Seven lawful financial benefits to healthcare professionals

We give you an overview of the financial benefits that pharmaceutical companies may lawfully offer to healthcare professionals.

PensionDanmark buys Lemvigh-Müller's domicile

Horten has assisted PensionDanmark with the purchase of Lemvigh-Müller’s domicile in Herlev.

On-call duty at home may be working time

New ECJ verdict: Time where the employee must be available to the employer without being physically present at the work place can be considered working time.

Horten is nominated as Greenland expert by Chambers

The recognised international ranking agency Chambers has ranked Horten as one of the country’s leading law firms specialised in the conditions prevailing in Greenland.

The Data Protection Agency publishes template data processor agreement

An important element of complying with the provisions of the data protection regulation is to ensure that the required data processor agreements have been concluded. The Data Protection Agency has prepared a template data processor agreement and an accompanying text explaining how to use the template.

Merger control: When to notify mergers and acquisition to national competition authorities

In mergers and acquisitions, it is always relevant to consider, if the transaction is subject to merger control – on either a national or an EU level. Horten's Merger Control Poster gives an overview of the turnover thresholds for merger control in Europe.

100 days until the data protection regulation comes into force – are you ready?

The data protection regulation will come into force in Denmark in 100 days from now. We will sum up what you need to have in place before 25 May 2018.

Price increases in the pharma sector may be considered abuse of a dominant position

The Danish Competition Council ruled that CD Pharma had abused its dominant position by increasing the price on the medicinal product Syntocinon by 2,000 % in 2014.

Horten carries out sale of Tvilum to a group of investors and is appointed trustee of the bankruptcy estate

After intense negotiations, a sale agreement with an investor group was signed on Friday 9 February. With this agreement, 504 out of 598 jobs were preserved.

The mandatory nature of the salaried employees act did not preclude an agreement concerning immediate resignation

The Western High Court has ruled that it was not contrary to the mandatory nature of the Salaried Employees Act or section 36 of the Contracts Act that an employee had concluded a severance agreement concerning resignation without notice.

Danish defence news: Offset collision and budget expansion ahead

On 25 January 2018, the EU Commission opened infringement procedures against five member states including Denmark for not complying with the public procurement rules.

Unique cooperation between Horten and Symbion

Horten has entered into unique cooperation with Symbion and Accelerace where we will make a team of lawyers available for start-up businesses at the shared office facilities Horten CoLab.

Two new specialised attorneys at Horten

Horten has appointed two new specialised attorneys with strong business insight within municipal and administrative law and insolvency and bankruptcy law.

Søgemedier A/S sold to Adelis

Horten has assisted the owners in connection with the sale of Søgemedier A/S to the capital fund Adelis.

Ten things to remember when drafting contracts

A contract is typically concluded for a specific purpose, and thus the parties often forget to regulate other central issues which can subsequently turn out problematic. We take you through ten steps that you should always consider when drafting contracts.

Nine things to be aware of when employing staff

We go through a number of focus areas which are useful to know when you are starting up a new business and are considering employing staff.

Incentive payments for employees

When you are about to start your own business, it can be difficult to offer a salary that attracts the most skilled employees. Another way to attract employees can be through incentive payment. We have listed the different types of incentive payments.

Horten obtains top ranking in WTR1000

World Trademark Review 1000 recently published its rankings for 2018. Once again, Horten obtained a top ranking.

New Holiday Act adopted

On 25 January 2018, the parliament unanimously adopted the new Holiday Act. At the same time, the parliament adopted the Act on administration of outstanding holiday pay.

The Supreme Court: Board of directors liable in damages for continuing legal action

The Supreme Court affirms: The board of directors in a company is liable in damages for the decision to continue legal action at a time when the company was no longer able to pay the costs to the opponent.

Cartel fine for collusion in connection with tender to waste water company

The Danish Competition and Consumer Authority has published that, on 12 January 2018, the contracting business Troels Jørgensen A/S was ordered to pay a fine of DKK 3.2 million for violation of the prohibition against anti-competitive agreements under the Competition Act.

Horten gets four new partners

With effect from 1 January 2018, Horten appointed Christian Tullberg, Kristoffer Westberg, Christina Steen and Niels Jørgen Oggesen as partners.

Self-selection of OTC drugs

From 1 January 2018, OTC drugs may be available for self-selection, which means that pharmacies and retailers may sell certain OTC drugs from shop areas and not only at the counter.

New rules on processing of payment data from 2018

New and more lenient rules on processing of payment data came into force at the turn of the year. We provide you with an overview of the new rules.

How to prevent and handle sexual harassment at work

As an employer, you have to be proactive to ensure a harassment-free workplace. We will zoom in on the legal definition of sexual harassment and give you an overview of the employer’s obligations and responsibilities.

New owner makes Danish biogas manufacturer ready for investments worth billions

The commercial activities in the Funen energy group, Nature Energy, have been sold to a consortium consisting of Pioneer Point Partners and Davidson Kempner.

PensionDanmark buys property from Midtconsult

Horten has assited PensionDanmark with buying a property from the consultancy firm Midtconsult.

New Managing Partner at Horten

Finn Schwarz, Attorney and Partner, has been appointed Managing Partner of Horten Law Firm as of 1 January 2018.

All Greenlandic companies are now to be registered in the CVR register

Greenland: New rules concerning CVR registration and modernisation of company legislation - how does this affect Greenlandic companies?

Lawyer Monthly recognizes Horten in two categories

The international news website Lawyer Monthly nominates Horten as “Life Sciences – Law Firm of the Year - Denmark” 2018 and og ”IT and Communications – Law Firm of the Year – Denmark” 2018.