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Monjasa expects bunker fraud appeal to be resolved in November

Danish bunker company Monjasa expects its appeal against a fraud case in which it was fined Danish Kroner 10 million ($1.44 million) last year to be dealt with in November, a spokesman told S&P Global Platts Wednesday, January 18.

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The appeal will come before Denmark's High Court in November and is likely to succeed or fail that month with no further proceedings, the spokesman said.

The case arose from a complaint by a Malaysian customer in 2014 over 24 deliveries of fuel oil in 2011-2013, in which the customer said it received less product than it had paid for. The company was fined and then CEO Jan Jacobsen handed a prison sentence of three years and six months in September.

The verdict was "strongly disputed by Monjasa in all its aspects," the spokesman said.