Mr Halvor Klingenberg

Halvor Klingenberg

Updates

Energy & Natural Resources

Upstream parent company guarantee challenged in court for first time
Norway | 15 July 2019

For the first time, the Norwegian courts have ruled in a case regarding the scope of the parent company guarantee (PCG) for licensees on the Norwegian Continental Shelf. The Borgarting Court of Appeal recently overturned a district court judgment and largely accepted the Norwegian government's interpretation of the PCG's scope of applicability. Although the ruling, which is likely to be appealed, provides some clarity, the question of whether tax claims are covered was not resolved.