Havila Shipping Appeals Court Ruling in Debt Dispute with DNB, Swedbank, and Danske Bank

Havila Shipping ASA is currently involved in litigation with DNB Bank, Swedbank, and Danske Bank over claims of a breach of a restructuring agreement entered into in June 2020. The dispute centers on whether the banks are required to convert their non-interest-bearing B tranche debt into shares, as other creditors have already done, or if they are entitled to demand immediate repayment of both interest-bearing and non-interest-bearing debt totaling over NOK 725 million as of September 2025. In March 2025, Havila Shipping filed a lawsuit in Oslo District Court, but the court ruled against the company in December 2025. The company has announced its intention to appeal the decision, with the case expected to be decided by the Borgarting Court of Appeal in 2026 or early 2027. Meanwhile, the banks have demanded prepayment and indicated they will pursue legal action to enforce their security interests. Havila Shipping maintains that the banks’ claims are unfounded and intends to seek compensation for any resulting losses. The company does not expect the legal dispute to affect its operations or its group bond loan. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Havila Shipping ASA published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW1001144660-en) on December 12, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)