MAGNUSSON ADVISES ON A MATTER OF AN AUDITOR'S LIABILITY
The question was if a careless audit can lead to that board members who have asserted joint liability according to the rules on lack of capital in Chapter 25 of the Swedish Companies Act may be compensated by the auditor according to the provision in Chapter 29, Section 2.
The Supreme Court found that the question regarding liability is determined by whom the applicable liability rule is intended to protect. The Supreme Court emphasized that the protection purpose of the rules on auditing of the company’s bookkeeping does not include the board members whom are responsible for it. The board can thus not blame the auditor for actions they are responsible for. Therefore, the auditor was not liable. The Supreme Court consequently affirmed the judgment of the Court of Appeal.
It is positive that the Supreme Court clarifies the boundaries for how far the liability according to Chapter 29, Section 2 of the Swedish Companies Act stretches, says Maria Nisell and Per Magnusson. It would be unreasonable if board members could lay their own responsibility on the auditor in such a way as attempted in this case. After many years of dispute, it is gratifying that the case had the desired outcome, says the two counsels.
MAGNUSSON HIGHLY RANKED BY CHAMBERS GLOBAL FOR ANOTHER CONSECUTIVE YEAR
Magnusson is highly ranked by Chambers Global for another consecutive year.read more
MAGNUSSON WARSAW ADVISES ON THE BALTIC PIPE PROJECT
Magnusson Warsaw advised the Polish side on the Baltic Pipe project. Our services focused on the finalisation of the Open Season procedure.read more
MAGNUSSON COPENHAGEN PARTNER, SAM JALAEI, ADVISES CO-RO A/S A DANISH GLOBAL LEADING SOFT DRINK PRODUCER ON A JOINT VENTURE DEAL IN IRAN
Sam Jalaei, Partner & Head of Middle East and Iran Desk at Magnusson Copenhagen, has advised client CO-RO A/S, a Danish leading specialist in and global provider of soft drinks with presence in 70 different countries, in connection with a joint venture with Takdaneh Co Ltd, an Iranian fruit producer exporting worldwide.read more
MAGNUSSON MOVES UP IN WORLD TAX 2018
Magnusson advanced in the tax & legal ranking World Tax, and our tax practices in four countries were recommended.read more