STOCKHOLM, Sweden, Sept. 16, 2004 (PRIMEZONE) -- On 21 June 2004 is was announced that Skandia and Skandia Liv had reached an agreement to refer to an arbitration board to resolve the issue of alleged, prohibited profit distribution in connection with Skandia's sale of its asset management business to Den norske Bank. An arbitration board consisting of five persons has now been appointed.
Skandia and Skandia Liv have jointly appointed former Supreme Court Justice Johan Lind, Supreme Court Justice Torgny Hastad, and Goran Karlstedt, head of division of the Svea Court of Appeal. In addition, Skandia has appointed Tor Marthin, and Skandia Liv has appointed attorney Lars Edlund. Johan Lind will serve as chairman of the arbitration board.
Johan Lind (b. 1934) was appointed as a Supreme Court justice in 1984 and is a former chairman of the Swedish Labour Court. He served as head of the unit in the Ministry of Justice which drafted the bill for the 1975 Companies Act. Torgny Hastad (b. 1943) was appointed as a Supreme Court justice in 1997, and prior to that he was a professor of civil law at Uppsala University. Goran Karlstedt (b. 1950) has served as head of division of the Svea Court of Appeal since 1998, and prior to that he was assistant undersecretary in the Ministry of Justice. Tor Marthin (b. 1944), B.Sc. Econ., was head of asset management and executive vice president of AMF Pension until his retirement in April 2004. Lars Edlund (b. 1952) has been a practicing attorney since 1985 and is currently with the law firm Coudert Brothers Advokatbyra. He has genuine experience in arbitration proceedings.
As announced in Skandia's interim report for the period January--June 2004, a ruling on the above-mentioned issue is expected in 2005.
Skandia Insurance Company Ltd Livforsakringsaktiebolaget Skandia
For further information, please contact: Gunilla Svensson, Press Manager, tel- +46-8-788 4297
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