in News Departments > FYI
print the content item

Deminor International has filed an EUR 11 million lawsuit against three Vestas exectives on behalf of 87 individuals. According to Vestas, "this is not a class action lawsuit but 87 individual claims for damages, grouped in one claim."

The claim is directed against Bent Erik Carlsen, Ditlev Engel and Henrik Norremark, the company's former chief financial officer who is now under investigation for engaging in unauthorized dealings with two companies based in India.

Vestas says the claim is based on an existing lawsuit filed by Deminor against Vestas in the U.S. on behalf of Commerzbank International Portfolio Management, who claims the turbine maker issued false information regarding its revenue and earnings.

According to a Vestas spokesman, an earlier Deminor notice filed on Aug. 6, was a notification of an intent to file. At that time, Deminor said it intended to file a claim for 40 million euros, which included past and present board members Jorgen Huno Rasmussen, Jorn Ankær Thomsen, Torsten Erik Rasmussen, Hakan Eriksson, Kurt Anker Nielsen, Freddy Frandsen, Ola Rollen, Carlsen, Engel and Nørremark.

Vestas has reviewed the claim and contends it is without merit.


Trachte Inc._id1770
Latest Top Stories

Six Key Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965