The bankruptcy estate's right to assert an independent claim after limitation
Supreme Court judgment 6 June 2019, HR-2019-1073-A, (case no. 18-168174SIV-HRET), civil case, appeal against judgment.
The bankruptcy estate of Marine Subsea AS (Counsel Kåre Idar Moljord) v. XL Insurance Company SE (Counsel Anders Wilhelm Færden), Hans Christian Nygaard (Counsel Caterina Håland Gaeta) (Assisting counsel Bjørn Stordrange)
A limited company that had entered into disadvantageous agreements contrary to section 3-8 of the Companies Act, subsequently went bankrupt. The bankruptcy estate filed a claim for performance against the company's general manager and his general insurer in accordance with section 3-8 subsection 3, cf. 3-7 subsection 2. The claim was time-barred on the company's part. The Supreme Court found that the bankruptcy estate could not assert such a claim as an independent claim on a non-statutory basis. It was stated that the liability norm on which section 3-8 subsection 3 is based, had to be considered essential to determine whether the bankruptcy estate could assert an independent claim. The solution to the question whether the contributor's liability for performance would be complex and subject to much assessment, and could also raise issues of evidence, as opposed to liability more characterised by guarantees under section 2-19 of the Companies Act. Here, it has been accepted that a claim that would have been time-barred on the company's part, could be pursued as an independent claim for the estate. Extended protection for the bankruptcy estate in cases like this would therefore require legislation, like in the question of extended protection in connection with claims under section 17-1 of the Companies Act. The claim was thus time-barred also on the part of the bankruptcy estate. The appeal against the court of appeal's judgment, which like that of the district court had concluded that the claim was time-barred, was set aside.