Seadrill Files for Damages Against the Oslo Bors and Norwegian State

In March of this year, Seadrill issued a writ against Oslo Bors alleging that the decision by the Stock Exchange Appeals Committee in respect of Seadrill’s duty to make a mandatory offer for Eastern Drilling ASA was invalid. Seadrill has now issued a new writ seeking damages for losses incurred as a result of adhering to the ruling on the duty to make a mandatory offer. The proceedings are issued against Oslo Bors and the Norwegian State as represented by the Ministry of Finance. The proceedings allege that the Norwegian State and Oslo Bors are jointly and severally liable for damages with an upper limit of NOK 850 million.

Seadrill has at the same time asked the court to suspend the new proceedings until the courts have decided the annulment action on the validity of the ruling.

The claim for damages is in accordance with Seadrill’s previous indications. Oslo Bors does not believe that there are any grounds for a claim for damages, and will defend the proceedings.