News and current topics from various practice areas and industries

AP, SP, and SV have agreed to investigate differentiated valuation of unlisted shares in wealth tax based on the characteristics of each individual share. What will this mean for the valuation of shares in different share classes?

Partner Christopher Hansteen, Senior Associate Johannes Teigland, and Associate Maria Mirijanyan assisted the Union of Education Norway in its complaint to the Committee on Freedom of Association (CFA) at the International Labour Organization (ILO) for violations of ILO conventions concerning the protection of freedom of association, conventions to which Norway is bound.

The Supreme Court clarifies the Arbitration Act’s deadline rules for demanding lawsuits before the ordinary courts rejected because the legal relationship falls under arbitration.

On October 12, 2023, the government appointed Electricity Price Committee presented their report. The expert committee’s mandate was to investigate and discuss models that could con-tribute to more stable, predictable, and competitive electricity prices.

The Financial Supervisory Authority of Norway (Finanstilsynet) has imposed a violation penalty of NOK 2 million on the British management company, Cazadores Investments Limited for breaching the prohibition against uncovered short sales. This is in addition to the confiscation of profits for violations of the prohibition on uncovered short selling with regards to selling shares in connection with the new issuance of Flyr shares last year.

The Norwegian Privacy Appeals Board has upheld the Norwegian Data Protection Authority’s record fine of NOK 65 million (Euro 6.2 million) for the failure to obtain valid consent to share personal data to AdTech companies for marketing purposes. This is the highest GDPR violation fine imposed thus far in Norway. The decision is the result of a complaint from the Norwegian Consumer Council, which has been assisted by Hjort’s GDPR team.

Hjort has assisted in a case concerning the question of whether a claim for retroactive enrollment in an occupational pension scheme becomes time-barred under section 1 of the Limitation Act.

Hjort has assisted the Danish company Bio Recycling ApS (plaintiff), which was awarded NOK 30 million in compensation in the district court. The judgment is not final.

As a result of exciting and dynamic times within the energy industry, Chambers and Partners have highlighted the growth by publishing a new global practice guide, “Alternative Energy and Power 2023”.