Demanded millions from Kasi curator

Another chapter is now added to the sensational spectacle that unfolds in connection with the reopening of the bankrupt Kasi ApS estate.

Thus, it turns out that the trustee in the bankruptcy estate, Boris Frederiksen, who is also the chairman of the Chamber of Attorneys, has been charged large sums for documents that, according to the bankrupt businessman Jesper 'Kasi' Nielsen, prove that the jewelry giant Pandora has cheated him of an amount that he currently estimates at 5.7 billion kroner.

Prior to the reopening of Kasi ApS, there was a dialogue about whether new information had emerged. In this connection, Jesper Nielsen introduced us to a former Pandora employee who offered to sell documentation. It was a one-page document with some accounting figures and a Pandora logo, which the person in question wanted a million to hand over. It was not possible to assess whether the document was genuine or where it came from. We refused to pay for the document and have therefore not received it, says Boris Frederiksen.

The case against Pandora dates back to 2010, when Jesper 'Kasi' Nielsen's company Kasi ApS sold its shares in the company Pandora Central Western Europe (CWE) to Pandora. At that time, an agreement was made for a cash payment of 385 million kroner. In addition, the so-called earn-out agreement was added.

The agreement broadly meant that Kasi-Jesper's company would be paid, depending on how CWE fared in 2015. Along the way, Kasi-Jesper believed that it had become a billion-dollar deal, while Pandora ended up setting the value at zero kroner.

No basis

The parties therefore agreed in 2015 to appoint an independent auditor to settle the dispute. In 2016, Kasi chose to file an arbitration case against Pandora. However, by the autumn of 2018, Kasi ApS had run into major financial difficulties. But Jesper 'Kasi' Nielsen had the brilliant idea of raising money by selling so-called mini-shares of the potential profits from the fight with Pandora. The sale brought in a double-digit million for Kasi ApS, but according to court documents that Ekstra Bladet was given access to, the money was not used to reduce the company's large debt.

Instead, the millions were passed on to another company, Amazing Jewelry, which is also controlled by Jesper 'Kasi' Nielsen and his family.

Debt of 100 million

In the wake of the transfers, Kasi ApS went bankrupt with a debt of over 100 million kroner, and Boris Frederiksen was appointed as trustee.

In 2021, however, Jesper Nielsen chose to drop the case against Pandora, and in this regard he wrote on Facebook: 'We did 'whatever it takes' but a proper sigh of relief for the Nielsen family today regarding our Earnout case against Pandora. Pandora was too skilled and the independent auditor unfortunately could not find where they had cheated us. Therefore, together with Boris Frederiksen from the Danish Bar Association, we have today chosen to drop the case.'

But last year the case resurfaced when Jesper 'Kasi' Nielsen made it clear in both Økonomisk Ugebrev and Berlingske that he - once again - had received evidence that he had been cheated by Pandora, and that he wanted to reopen the case against the company.

Thus, an internal accounting from Pandora should show that there had been large profits in the CWE company, which is a different interpretation than the one that has been put forward so far.

Reopened

Specifically, it was the German handball club Rhein Neckar-Löwen, which Kasi-Jesper owned for a number of years, that requested the Maritime and Commercial Court to reopen Kasi ApS' bankruptcy.

However, it was rejected, and in November last year the Eastern High Court also ruled that the case would remain closed.

But on January 22 this year, the bankruptcy estate was reopened. Boris Frederiksen had been contacted by Kasi-Jesper, who initially suggested that he had found 300,000 kroner in an account in Spain. The amount was later reduced to 130,000 kroner. According to Jesper Nielsen, the money belongs to the bankruptcy estate, but Boris Frederiksen has not yet seen a shadow of it.

- I can confirm that the bankruptcy estate has been reopened, but it has been reopened with a very narrow mandate. And that mandate is solely about withdrawing an amount that, according to Jesper Nielsen's own information, amounts to 130,000 kroner, and finding out who it should be distributed to, says Boris Frederiksen.

- Three weeks later we still haven't received the amount. Kasi: That's right

Jesper 'Kasi' Nielsen confirms to Ekstra Bladet that he introduced Boris Frederiksen to a former Pandora employee. He says that Boris Frederiksen, together with a lawyer colleague, flew to a European capital on a private plane in the company of Jesper Nielsen, his sister Annette Laustrup and Brøndby investor Jan Bech Andersen.

'The witness in question presented the requested documents to Boris Frederiksen and his colleague,' writes Jesper Nielsen in an email to Ekstra Bladet.

'As Boris Frederiksen correctly explains, this witness wanted financial and security protection, as he was nervous about reprisals and actions from Pandora and Axcel if he were to provide these documents and come forward.

'You have found 130,000 kroner, which belongs to Kasi ApS. What is the reason why you have not yet paid these in?

'They are and have long been paid to our lawyer into his client account - the exercise is precisely to uncover whether this money belongs to Kasi ApS or not. We await the trustee's investigation into this,' writes Jesper Nielsen and has attached a screenshot of a transfer of 130,000 kroner to the law firm Viinbergs Law.

'How is it possible to overlook such a large amount for a man who is personally bankrupt?'

'I am only personally bankrupt in Denmark and have activities all over the world. My personal bankruptcy in Denmark was due to violations of confidentiality clauses in connection with the fraud carried out by Pandora against Kasi ApS.'

'You continue to sell mini-shares. What do you do with the money that is paid in?'

'They are used to finance lawyers, advisors, security companies, consultants and the process for now 5 different cases we are pursuing against Pandora and Boris Frederiksen.'

'How much have you sold mini shares for so far?'

'A double-digit million amount, and we will continue as long as we need money to finance the cases.'

'Strictly speaking, it is Kasi ApS that has the original claim against Pandora. How does this relate to the fact that you are selling mini-shares in a possible payment to a company that you do not have control over?'

'Kasi ApS's creditors are estimated at 115 million DKK, and the claim against Pandora is 5.7 billion DKK.'

'So there seems to be more than enough room for the mini shares to be sold under our personal auspices.'

Jesper Nielsen has also requested that a different trustee be found than Boris Frederiksen. He points out that Boris Frederiksen, as a barrister, represents the state, including the Danish Tax and Customs Administration, with whom Jesper Nielsen has had a long-standing battle and where he has won several cases. Therefore, Jesper Nielsen and his lawyer believe that Boris Frederiksen is incompetent.