Nilfisk Faces Insurance Claim Lawsuit, Court Rules Against Company
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Globenewswire
- Court Ruling Outcome: The Eastern High Court of Denmark ruled against Nilfisk in the insurance claim lawsuit, reducing the insurer's claim from €19 million to €17 million, although Nilfisk plans to appeal to the Supreme Court for a more favorable outcome.
- Legal Cost Impact: This ruling results in Nilfisk facing a total exposure of approximately €23 million, including interest and legal fees, despite the company stating that this dispute will not affect its operating results.
- Management Response: CFO Carl Bandhold expressed disappointment with the ruling and emphasized that the company will seek to appeal based on external legal advice, indicating a differing understanding of the case facts.
- Special Items Treatment: Nilfisk has clarified that this insurance claim dispute will be treated as a special item, ensuring that it does not have a direct impact on the company's operating results, reflecting the company's financial management prudence.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
