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Supreme Court: payment guarantee may not be on-demand guarantee
  • Norway
  • 15 October 2012

In a recent judgment, the Supreme Court concluded that a payment guarantee was not an on-demand guarantee, but a surety only, under which the guarantor could invoke debtor objections to the payment obligations, despite the fact that the guarantee included language customarily used in on-demand guarantees. The Supreme Court has established stricter requirements to the contents of on-demand guarantees.

Liability of directors of companies in difficulty
  • Norway
  • 07 December 2009

The criteria for duty of care have been tightened over the past few years and the courts appear more willing to impose liability on corporate directors. Directors must therefore be careful in how they deal with the company's assets in order to avoid personal liability for damages suffered by third parties, especially when the company is insolvent or threatened with insolvency.

Advokatfirmaet Grette AS
Advokatfirmaet Grette AS
Advokatfirmaet Simonsen Vogt Wiig AS
Advokatfirmaet Simonsen Vogt Wiig AS
Wikborg Rein
Wikborg Rein