After losing a court case, Jan Jacobsen has sold his 50% shares in bunkering firm Monjasa Group to co-founder and group CEO, Anders Østergaard. Østergaard now becomes the single owner of the company.
Following an interim defeat in a lower district court in Denmark last year, Jacobsen said he wanted to bring “serenity” to the group by selling his share interest and leaving Monjasa. The case involved Monjasa’s Danish subsidiary, Monjasa and Jacobsen, and concerns allegations on oil quantity discrepancies towards an Asian customer dating back to 2010.
Jacobsen said: “Following a highly surprising and wrongful first instance ruling back in 2016, I decided to resign from all management and board responsibilities and now I have decided to sell my company shares and leave Monjasa in full. I believe this is the most responsible consideration towards Monjasa and its many global business partners. It’s hard to say goodbye to such a big part of my life, but I hope my decision will benefit everyone in Monjasa and create serenity and renewed stability for the future development of the group.
Jacobsen has appealed the court ruling.