NORWAY: CORPORATE INVESTIGATIONS – A POWERFUL TOOL FOR MINORITY SHAREHOLDERS
Corporate investigations are available under Norwegian law, and they can be an effective means for minority shareholders to obtain information about specific topics or problems, and thereby exert a certain amount of control of the management of the company’s business. It can sometimes be difficult for minority shareholders in a limited liability company to obtain all the information they may feel is needed to assess the performance of the company and the management of its business. Especially if a minority shareholder suspects that the majority shareholders are abusing their position, or that illegal acts have been committed by the company or its management, access to information will be critical to enable him to assert and enforce his rights, and a corporate investigation can be the answer. Corporate investigations have been available on generally the same conditions under the Norwegian Joint Stock Companies Act of 1997 (the Companies Act) and previous companies acts for decades, but until 5-10 years ago there were not many of them. Their use has recently become increasingly popular, as has the use of enquiries in other areas, such as natural disasters or other accidents. In this article we will explain under what circumstances corporate investigations are available, and what their purpose and effects can be.
Jul-Sep 2014 issue
Grette Law Firm