Pandora Acquitted in Civil Lawsuit by Kasi-Jesper

Jewelry giant Pandora has been cleared by the Frederiksberg Court in a civil case brought by Jesper Laustrup Nielsen, widely known as Kasi-Jesper. Nielsen had demanded that Pandora pay him more than 800 million Danish kroner (approximately $115 million USD).

The court's decision means Kasi-Jesper and his family will not be able to pursue a full trial against Pandora. The case centered on the company Pandora CWE, which stands for Central Western Europe. Jesper Laustrup Nielsen and his family established this business jointly with Pandora in 2010.

Pandora acquired the entire company in the autumn of 2010, ending its collaboration with Nielsen and his family. A dispute subsequently arose over an "earn out" agreement, which would have allowed the family to receive a portion of Pandora CWE's earnings until 2015. However, when the agreement was calculated, it became clear that Pandora CWE's performance had faltered, leaving no funds for the Nielsen family.

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The court finds that Kasi-Jesper and his company have no legal interest in the case.

The court determined that the parties to the 2010 ownership agreement were Pandora and Kasi Aps, Jesper Laustrup Nielsen's former company, which has since gone bankrupt. Consequently, any claim against Pandora would have to be directed towards Kasi Aps. The court found that Kasi-Jesper and his company lacked the legal standing to pursue the case, and therefore did not rule on the merits of the 800 million kroner claim.

Furthermore, both the probate court and the Østre Landsret (Eastern High Court) have refused to reopen the bankruptcy estate of Kasi Aps. The court also noted a previous arbitration case between Pandora and Kasi Aps, which concluded with Kasi Aps's bankruptcy. That arbitration also found that Kasi-Jesper and his family were not entitled to further payments from Pandora. The court's decision was unanimous among the three judges. In addition to the ruling, Jesper Laustrup Nielsen and Dojaa Holding, a company owned by his parents, are required to pay Pandora 2 million kroner in legal costs.

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The court has therefore not ruled on whether the claim of more than 800 million kroner is justified.