10 , 13 January 2011
START DATE
END DATE
18-Feb-11
Golar LNG Ltd. v World Nordic SE
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
The Supreme Court of Bermuda
Commercial Law
Richard Ground
Andrew Martin and Jeremy Garood
Christian Luthi
FACTS OF THE CASE:
Golar LNG Ltd. seeks an appraisal under section 103 of the Companies Act 1981 of its shares in BW Gas Limited after World Nordic SE issued a notice to acquire outstanding shares arguing the offer undervalued the shares
SUMMARY:
The court's approach to share valuation the weight of quoted share price NAV considerations including tonnage tax value of the LPG carrier fleet and the application of a minority discount
OUTCOMES:
The shares in the Company were appraised at NOK 21 per share the price offered in the Notice
RULED IN FAVOUR OF:
Defendant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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