Energy Co. Can't Appeal $470M Danish Insurance Case

Law360, London (October 25, 2018, 2:26 PM BST) -- A Norwegian energy company has been told it cannot appeal the loss of a $470 million lawsuit against Zurich, AIG and more than a dozen other insurers, their lawyers said Thursday, ending nearly a decade of legal wrangling.

Denmark’s Appeals Permission Board told oil and gas producer Noreco on Wednesday that it could not appeal to the Danish Supreme Court, Clyde & Co. LLP said in a statement. The board’s decision, over a dispute about damage discovered on a North Sea oil rig in 2009, is final — there is no avenue of appeal.

“We are very pleased finally to have...

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