business
conditions

The attorneys

Every attorney at Nielsen Nørager is officially appointed as attorney by the Ministry of Justice in Denmark and is a member of the Danish Bar and Law Society.

Accepting an instruction

Upon receipt of an instruction, we will examine if a conflict of interest or other matters may affect our competence and prevent us from accepting the instruction.

Nielsen Nørager is subject to the Danish Act on Measures to prevent Money Launder- ing and Financing of Terrorism and we will, prior to the carrying out of any instruction, gather the information and documentation required under the Act.

Fee

Our fee is calculated on the basis of the time consumed in connection with our assistance, the scope of our work, the complexity and nature of the case, including the level of specialist knowledge required in the case, the monetary amounts involved, the level of responsibility associated with the matter, the importance of the matter to the client, and the outcome achieved.

Our services are invoiced at reasonable intervals (typically every month, every second month or quarterly). Specific matters of short duration are normally invoiced upon completion of the matter.

Expenses

In addition to our legal fee, the client is invoiced for any expenses incurred in connection with the matter, including fees, reasonable traveling and accommodation costs, food, and any substantial photocopying, translation and postage costs. This will take place either separately or in connection with the first coming invoice.

Client funds

All funds, which our clients entrust with Nielsen Nørager, are administered in accordance
with the Danish Bar and Law Society's provisions on client trust accounts. Client funds are deposited in client trust accounts at our bank Nykredit Bank A/S. If nothing else has been agreed, any interest earned of the client’s deposits on the client trust account is appropriated to the client, and the client carries any negative interest amount incurred of the client’s deposits on the client trust account.

For client trust accounts the ordinary rules apply under which as main rule only funds up to 100,000 euros per customer are protected in case of reconstruction or bankruptcy of the bank. If a client has additional funds in the same bank, the limitation of 100,000 euros is applied to the sum of the amounts placed on the different accounts. Neither Nielsen Nørager nor the individual lawyer can carry the risk of the funds in case of reconstruction or bankruptcy of the bank.

Copyright

Unless otherwise specifically agreed with the client, copyright to materials, documents and other products developed by Nielsen Nørager belongs to Nielsen Nørager.

Confidentiality, etc.

Attorneys and other employees at Nielsen Nørager are subject to professional secrecy obligation. All information is treated in confidence.

Attorneys and other employees at Nielsen Nørager are subject to internal rules in accordance with applicable legislation prohibiting the disclosure of inside information regarding listed companies and restricting trade in listed securities.

Liability and limitation of liability

Nielsen Nørager advises solely on Danish law and EU law.

Nielsen Nørager is liable for damages under the general rules of Danish law, subject to the following limitations:

Nielsen Nørager’s liability per assignment is limited at the lower of (i) 10 times the fee for the relevant assignment and (ii) DKK 50 million. In addition, Nielsen Nørager shall not be liable to any one client for any compensation in excess of DKK 75 million in relation to claims brought by such client relating to the same calendar year.

The client may only bring claims against Nielsen Nørager and thus not against the individual partners or other employees.

Nielsen Nørager is not liable for any loss or damage caused by cyberattacks or IT failure, or for any loss of data, operating loss, loss of time, loss of profits, loss of goodwill or reputation, or any indirect loss whatsoever or howsoever arising.

Nielsen Nørager is not liable for any advice rendered by sub-contractors, including if retained by us or with our assistance.

Insurance

Nielsen Nørager has taken out professional indemnity insurance and furnished a guarantee in accordance with the general rules of the Danish Bar and Law Society. The professional indemnity insurance covers all our legal advisory services regardless of where they are rendered.

Nielsen Nørager has taken out professional indemnity insurance with Codan Forsikring A/S, Central Business Register (CVR) 41 96 39 48, Gammel Kongevej 60, 1790 København V.

Disputes

Nielsen Nørager's attorneys are subject to the Code of Conduct laid down by the Danish Bar and Law Society/the Disciplinary Board of the Danish Bar and Law Society. The Code of Conduct is available at www.advokatsamfundet.dk.

In the event of a dispute about fees charged by Nielsen Nørager, a complaint about the size of the fee may be filed with the General Council of the Danish Bar and Law Society/the Disciplinary Board of the Danish Bar and Law Society, Kronprinsessegade 28, 1306 København K, www.advokatnaevnet.dk.

Any dispute about Nielsen Nørager's advice is subject to Danish legislation and the exclusive jurisdiction of the Danish Courts.