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The EFTA Court to consider jurisdictional issue in relation to cross-border recourse claims between insurance companies
Thursday, March 16, 2017On 31 August 2016 the Oslo District Court made a request for an Advisory Opinion in a case pending before it between Mobil Betriebskrankenkasse and Tryg Forsikring. The outcome of the case will be decisive for the type and scope of recourse claims the Norwegian insurance industry can be faced with from foreign social institutions and insurance companies in the future. The EFTA Court’s opinion is expected to be available next month.
We strengthen our shipping and offshore team
Monday, February 20, 2017The Norwegian national financial newspaper, Finansavisen, devoted a 2-page spread today to an article about Steenstrup Stordrange’s focus and achievement in further strengthening its Shipping and Offshore practice at a time when the industry in Norway is experiencing major financial and structural challenges, in particular the sectors affected by the dramatic fall in oil prices. We are proud to welcome three new partners, the latest in a series of successful lateral hires to the firm during the past two years. The newcomers are Oddbjørn Slinning, Marit Kirkhusmo and Robert Jensen.
We are pleased by the Recognition in financial newspaper Finansavisen’s annual attorney ranking
Thursday, February 16, 2017Last week Finansavisen published its annual attorney ranking. We are proud and pleased that our hard work, focus and investment in intellectual capital are reflected in the market's perception of us. In this year's ranking we have again climbed up in several categories.
Sverre S. Tysland new partner at Steenstrup Stordrange
Thursday, January 5, 2017It is with great pleasure and pride we can announce that Sverre S. Tysland has joined us as a partner of Steenstrup Stordrange.
The Norwegian Competition Authority opens its first abuse case since 2007
Thursday, December 15, 2016On 23 November 2016 the Norwegian Competition Authority (the “NCA”) issued a statement of objections against Telenor, one of the largest mobile network providers in Norway. The NCA proposes issuing an infringement decision pursuant to section 11 of the Norwegian Competition Act, (equivalent to Article 102 TFEU) for the abuse of dominant position in two markets for mobile network services to Norwegian consumers. The NCA has proposed a fine of NOK 906 million.
Proposed changes to the taxation of unit linked capital insurance - but the product’s fundamental attractiveness remains intact
Tuesday, November 22, 2016On 27 October 2016 the Norwegian Ministry of Finance issued a hearing note in which it proposes changes to the tax rules for “fund accounts”. “Fund accounts” are used in the hearing note as a collective term for unit linked capital insurance, which are marketed under different names in the Norwegian market. Common to most fund accounts is that the insurance element is limited, usually 1% of the fund account’s total savings value upon the insured’s death.
The PRIIPs Regulation facing a one year delay
Monday, November 14, 2016The European Commission announced 9 November 2016 that it suggests extending the application date of the PRIIPs Regulation by one year, i.e. until 31 December 2017.
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