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Transocean cleared after 11-year Norwegian tax battle

Norwegian authorities have finally dropped a planned appeal in a tax fraud case it lost against Transocean in 2014.

The case has dragged on since 2005 when Norwegian authority OKOKRIM started investigating the company over the shifting of assets across various subsidiaries leading to the underpaying of Norwegian tax between 2000 and 2002 to the tune of $290m.

Transocean and three advisers were acquitted by Oslo’s district court in 2014 and the demand for damages dismissed.

The case was Norway’s biggest ever tax case and the appeal was due to be heard in court last week, however it was postponed after the chief public prosecutor was taken off the case.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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