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Hunsfos Fabrikker As, the Winding up Estate

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Hunsfos Fabrikker As, the Winding up Estate RO SOMMERNES ADVOKATFIRMA DA Roald Amundsens gate 6 Postboks 1983 Vika N-0125 Oslo, Norway Tel. (+47) 23 00 34 40 Fax. (+47) 23 00 34 50 E-mail [email protected] www.rosom.no Oslo, 24th October 2011 REPORT TO KRISTIANSAND CITY COURT1 CASE No.: 11-133328 KON-KISA/07: HUNSFOS FABRIKKER AS, THE WINDING UP ESTATE 1 Office translation: In case of any discrepancy between the report in Norwegian and the report in English, the Norwegian version shall prevail. RO SOMMERNES ADVOKATFIRMA DA List of contents 1 ADDRESSES TO WHICH THE REPORT WILL BE SENT.................................................................................... 3 2 IDENTIFICATION OF WHOM THE CASE CONCERNS ..................................................................................... 4 2.1 Name.............................................................................................................................................................................. 4 2.2 Business address .......................................................................................................................................................... 4 2.3 Enterprise number ...................................................................................................................................................... 4 2.4 Branch............................................................................................................................................................................ 4 2.5 The Group .................................................................................................................................................................... 4 2.6 Shares/ownership parts in other enterprises /companies ................................................................................... 5 3 THE BANKRUPTCY .......................................................................................................................................................... 5 3.1 The legal basis .............................................................................................................................................................. 5 3.2 Petitioning creditor ...................................................................................................................................................... 5 3.3 The closing date pursuant to the Satisfaction of Claims Act Section 1-2 ......................................................... 5 3.4 Closing date for notifying claims .............................................................................................................................. 5 3.5 First meeting of creditors ........................................................................................................................................... 6 4 THE ADMINISTRATOR OF THE WINDING UP ESTATE ................................................................................. 6 4.1 The Administrator of the Winding up Estate ........................................................................................................ 6 4.2 The Winding up Estate Auditor ............................................................................................................................... 6 4.3 Committee of Creditors.............................................................................................................................................. 6 5 DETAILS OF THE BANKRUPT PARTY ..................................................................................................................... 6 5.1 Date of establishment and date of registration ...................................................................................................... 6 5.2 Share capital at establishment and the date on which bankruptcy proceedings were ........... opened 7 5.3 The Company’s shareholders .................................................................................................................................... 7 5.4 Chairman of the Board and Members of the Board for the previous two years and the Managing Director for the previous five years .......................................................................................................................................... 7 5.5 The Auditor .................................................................................................................................................................. 7 5.6 The Accountants .......................................................................................................................................................... 8 5.7 The engagements of leading staff members in other enterprises/activities/companies ................................ 8 6 THE COMPANY’S ACTIVITIES ..................................................................................................................................... 8 6.1 General .......................................................................................................................................................................... 8 6.2 Accounting and Accounting Methods & Principles .............................................................................................. 9 6.2.1 Profit & Loss Accounts (figures in TNOK) ..................................................................................................... 9 6.2.2 Balance Sheet (figures in TNOK) ..................................................................................................................... 10 6.3 Activities and number of employees on the date bankruptcy proceedings were ............................ opened 12 6.3.1 Last wage payments ............................................................................................................................................. 12 6.3.2 Balances with employees .................................................................................................................................... 12 6.3.3 Information concerning utilisation of the tax deductions account ............................................................. 12 6.4 The date on which insolvency incurred ................................................................................................................. 12 6.5 The causality of the bankruptcy .............................................................................................................................. 12 6.6 The Auditor/The Financial Supervisory Authority of Norway ........................................................................ 13 7 THE WINDING UP ESTATES POSITION ............................................................................................................... 13 7.1 Assets that are incorporated under the bankruptcy seizure ............................................................................... 13 The following is an overview of the assets encompassed under the bankruptcy seizure. ....................................... 14 7.1.1 Bank deposits ........................................................................................................................................................ 14 7.1.2 Receivables ............................................................................................................................................................ 14 7.1.3 Goods in stock ..................................................................................................................................................... 14 7.1.4 Real estate .............................................................................................................................................................. 14 7.1.5 Operating equipment, machinery etc. .............................................................................................................. 15 7.1.6 Other assets ........................................................................................................................................................... 15 7.2 Voidable dispositions ................................................................................................................................................ 15 7.3 Activities after bankruptcy proceedings were opened ........................................................................................ 15 Report in case N.: 11-133328 KON-KISA/07: Hunsfos Fabrikker AS, bankruptcy Page 2 of 21 RO SOMMERNES ADVOKATFIRMA DA 7.4 Sales .............................................................................................................................................................................. 15 7.5 The Company’s liabilities ......................................................................................................................................... 16 7.6 In particular on disputes ........................................................................................................................................... 16 7.7 Accrued and incurred costs ..................................................................................................................................... 16 8 THE POSITION OF THE CREDITORS..................................................................................................................... 16 8.1 Potential for cover ..................................................................................................................................................... 16 8.2 Examination of claims .............................................................................................................................................
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