The Law Firm is liable for the advisory services provided in accordance with the general rules of Danish law, and the Law Firm is covered by professional indemnity insurance taken out with recognised insurance companies. The same insurance companies has also issued a compulsory guarantee for funds held on clients’ accounts in accordance with the rules laid down by the Danish Bar and Law Society.
The professional indemnity insurance covers any practising of law, irrespective of the place of such practising.
The liabilities of the Law Firm and its partners and employees are, however, limited to a maximum of DKK 40 million per assignment. The aggregate amount of damages payable to a single client cannot exceed DKK 40 million for any claim raised by the client in one single calendar year.
If the Law Firm provides advisory services to more clients having common or comparable interests in a coherent assignment, such services will be regarded as if they had been provided for one single assignment so that the total amount of damages payable by the Law Firm to all such clients is limited to a maximum of DKK 40 million. Correspondingly such clients will be regarded as if they were one single client in respect of the above DKK 40 million limitation of liability rule.
The Law Firm and its partners and employees are not liable for any consequential loss or other indirect loss, including loss on operations, loss of profits, data, goodwill, image etc.
The Law Firm and its partners and employees are not liable for any errors committed by advisers recommended by the Law Firm, nor are the Law Firm and its partners and employees liable for any errors committed by sub-contractors to which the Law Firm has outsourced parts of the assignment under an agreement with the client.