GiG loses court battle with Norwegian TV presenter
Operator is instructed to hand Euro TV AS 3.4m shares or NOK 4m for not honouring an alleged verbal agreement
Gaming Innovation Group (GiG) has been instructed to transfer 3.4 million shares or NOK 4m (£365k) to Norwegian television channel Euro TV AS to honour an “alleged oral agreement”.
The alleged agreement between both parties dates back to April 2015 when Norwegian TV presenter Hallvard Flatland claims a former GiG board member had agreed to give Flatland company shares in exchange for acting as a GiG ambassador
The case was first mentioned in the operator’s 2017 FY report, in which a statement said the firm believed it would be acquitted.
The statement said: “The company has rejected the claim based on the parties did not enter into any agreement.
“The company has challenged whether Norwegian courts have jurisdiction to rule on this matter and the court is expected to pronounce its clarifying verdict during spring 2018,”
GiG is in the process of assessing whether to appeal the by Bergen City Court ruling, after claiming it did not enter into any agreement.