Corporate Showdown: Danish Tech Firm Battles Bank and Law Firm After Annulled Bankruptcy, Pursues Financial Lifeline
March 13, 2026, 9:50 am
Danish tech firm Shape Robotics alleges corporate malfeasance. It faced an unlawful, 59-day bankruptcy. Danske Bank allegedly breached a settlement. Its lawyer, Teis Gullitz-Wormslev of Kromann Reumert, became the bankruptcy trustee. This alleged conflict destroyed DKK 464 million in shareholder value. A High Court annulled the bankruptcy due to unlawful service. But Shape Robotics' operating funds, DKK 3.7 million, remain held. Corporate records are withheld. The CEO reports systemic obstruction. Shape Robotics now seeks financial stability. It signed an equity financing Letter of Intent with IRIS SARL. Crucial negotiations with a key creditor are advancing. Nasdaq Copenhagen still suspends trading. Shape Robotics demands justice, asset return, and trading resumption. A criminal complaint deadline looms. The firm fights to protect its 5,000 retail investors and reclaim its operations.
Copenhagen, Denmark. A corporate battle unfolds. Shape Robotics, a Danish education technology company, claims it endured an unlawful 59-day bankruptcy. The firm alleges a systematic destruction of shareholder value. It points fingers at banking giant Danske Bank and law firm Kromann Reumert. This complex **legal dispute** highlights critical **corporate governance** issues. It questions ethical standards within Denmark's financial and legal sectors.
The core of the dispute rests on a breached settlement. Shape Robotics had paid DKK 3.725 million to Danske Bank. This payment secured an agreement. Danske Bank would withdraw its bankruptcy petition. The settlement, called the Afviklingsaftale, was a binding contract. Shape Robotics fulfilled its obligation. Danske Bank reportedly reneged.
Instead, Danske Bank's lawyer, Teis Gullitz-Wormslev, appeared in court. He presented Danske Bank's claims. He then actively supported a separate bankruptcy petition. This action nullified the prior settlement. Gullitz-Wormslev, a partner at Kromann Reumert, then accepted appointment. He became the "neutral" trustee for Shape Robotics' estate. This immediate shift generated outrage. Shape Robotics views it as a blatant **conflict of interest**. The firm describes it as a **hostile takeover** engineered through the bankruptcy system. Kromann Reumert drafted the initial settlement for Danske Bank. Its partner then controlled the company. Its client, Danske Bank, was the largest creditor.
The consequences were severe. Shareholder value plummeted. Shape Robotics estimates DKK 464 million was destroyed in 59 days. The company's Finnish subsidiary, Sanako Oy, faced bankruptcy. This asset was acquired for EUR 8.6 million. Its collapse eliminated a crucial EUR 40 million Polish education contract pipeline. Approximately 70 jobs were eliminated across five countries. Key corporate records vanished. Operating funds were frozen. This period caused immense **corporate distress**.
On March 5, 2026, the Eastern High Court delivered a landmark ruling. It annulled the **unlawful bankruptcy** of Shape Robotics. The court found the bankruptcy petition was not lawfully served. It was sent to a former board member's private digital address. This violated Danish procedural law. Shape Robotics was declared bankrupt without its knowledge. It had no chance to defend itself.
Despite the annulment, problems persist. Shape Robotics' operating funds remain withheld. DKK 3,722,813.18 sits in Kromann Reumert's client account. The former trustee, Teis Gullitz-Wormslev, refuses its release. He cites "uncertainty." Danske Bank also claims the money. Shape Robotics argues no legal basis exists for Danske Bank's claim. The original contract was breached. The bankruptcy annulment further invalidates the claim. This is considered an act of **financial misconduct**.
Systematic obstruction continues. No corporate records have been returned. Financial statements, contracts, bank credentials, IT access, and email archives are missing. The company struggles to retain legal counsel. Many Danish law firms cite conflicts of interest due to Kromann Reumert's influence. Denmark's largest law firm, Kromann Reumert's reach is extensive. Shape Robotics' CEO, Mark-Robert Abraham, is effectively locked out of the Danish legal system. His own bank accounts remain frozen by Danske Bank. This impedes any recovery efforts.
Amidst this legal quagmire, Shape Robotics seeks a path forward. It signed a Letter of Intent (LOI) with IRIS SARL. IRIS, a French investment company, proposes an **equity financing** facility. This facility could provide up to 15,000,000 shares over 36 months. Shape Robotics would retain control over drawdowns. This development offers a vital financial lifeline. It aims to stabilize the company's position and support future growth.
Crucially, Shape Robotics initiated negotiations with the creditor whose petition led to the original bankruptcy decree. A commercial resolution is sought. Payment would come from the IRIS equity facility proceeds. This signifies a major step towards resolving past issues. The **Nasdaq Copenhagen** trading suspension, however, remains. Shares have been halted since December 19, 2025. Shape Robotics argues the basis for the suspension no longer applies. The bankruptcy is annulled. The primary creditor is negotiating. The company urges Nasdaq to restore trading. Resumption is essential. It enables the financing and the creditor settlement.
Shape Robotics has notified multiple bodies. These include Sø- og Handelsretten, Advokatnævnet (Danish Bar Complaints Board), and Advokatsamfundet (Danish Bar Association). The company issued a final deadline. If funds and corporate records are not returned by end of business Friday, March 13, 2026, criminal complaints will follow. These target Teis Gullitz-Wormslev, Kromann Reumert, and Danske Bank. Charges include misappropriation of company assets, obstruction, and abuse of **fiduciary duty**.
This ongoing saga extends beyond the current events. Shape Robotics previously filed a complaint with Nasdaq Copenhagen. This concerned suspected **market manipulation**. It involved Carnegie Investment Bank. The firm alleges significant shareholder destruction. The fight for **shareholder value** is central to Shape Robotics' mission. Its 5,000 retail investors await resolution.
Shape Robotics remains committed. It seeks justice and corporate accountability. The company is fighting to rebuild its operations. It aims to protect its investors. The outcome of this high-stakes confrontation will resonate across the **capital markets** and influence standards of **business ethics** in Denmark.
Copenhagen, Denmark. A corporate battle unfolds. Shape Robotics, a Danish education technology company, claims it endured an unlawful 59-day bankruptcy. The firm alleges a systematic destruction of shareholder value. It points fingers at banking giant Danske Bank and law firm Kromann Reumert. This complex **legal dispute** highlights critical **corporate governance** issues. It questions ethical standards within Denmark's financial and legal sectors.
The core of the dispute rests on a breached settlement. Shape Robotics had paid DKK 3.725 million to Danske Bank. This payment secured an agreement. Danske Bank would withdraw its bankruptcy petition. The settlement, called the Afviklingsaftale, was a binding contract. Shape Robotics fulfilled its obligation. Danske Bank reportedly reneged.
Instead, Danske Bank's lawyer, Teis Gullitz-Wormslev, appeared in court. He presented Danske Bank's claims. He then actively supported a separate bankruptcy petition. This action nullified the prior settlement. Gullitz-Wormslev, a partner at Kromann Reumert, then accepted appointment. He became the "neutral" trustee for Shape Robotics' estate. This immediate shift generated outrage. Shape Robotics views it as a blatant **conflict of interest**. The firm describes it as a **hostile takeover** engineered through the bankruptcy system. Kromann Reumert drafted the initial settlement for Danske Bank. Its partner then controlled the company. Its client, Danske Bank, was the largest creditor.
The consequences were severe. Shareholder value plummeted. Shape Robotics estimates DKK 464 million was destroyed in 59 days. The company's Finnish subsidiary, Sanako Oy, faced bankruptcy. This asset was acquired for EUR 8.6 million. Its collapse eliminated a crucial EUR 40 million Polish education contract pipeline. Approximately 70 jobs were eliminated across five countries. Key corporate records vanished. Operating funds were frozen. This period caused immense **corporate distress**.
On March 5, 2026, the Eastern High Court delivered a landmark ruling. It annulled the **unlawful bankruptcy** of Shape Robotics. The court found the bankruptcy petition was not lawfully served. It was sent to a former board member's private digital address. This violated Danish procedural law. Shape Robotics was declared bankrupt without its knowledge. It had no chance to defend itself.
Despite the annulment, problems persist. Shape Robotics' operating funds remain withheld. DKK 3,722,813.18 sits in Kromann Reumert's client account. The former trustee, Teis Gullitz-Wormslev, refuses its release. He cites "uncertainty." Danske Bank also claims the money. Shape Robotics argues no legal basis exists for Danske Bank's claim. The original contract was breached. The bankruptcy annulment further invalidates the claim. This is considered an act of **financial misconduct**.
Systematic obstruction continues. No corporate records have been returned. Financial statements, contracts, bank credentials, IT access, and email archives are missing. The company struggles to retain legal counsel. Many Danish law firms cite conflicts of interest due to Kromann Reumert's influence. Denmark's largest law firm, Kromann Reumert's reach is extensive. Shape Robotics' CEO, Mark-Robert Abraham, is effectively locked out of the Danish legal system. His own bank accounts remain frozen by Danske Bank. This impedes any recovery efforts.
Amidst this legal quagmire, Shape Robotics seeks a path forward. It signed a Letter of Intent (LOI) with IRIS SARL. IRIS, a French investment company, proposes an **equity financing** facility. This facility could provide up to 15,000,000 shares over 36 months. Shape Robotics would retain control over drawdowns. This development offers a vital financial lifeline. It aims to stabilize the company's position and support future growth.
Crucially, Shape Robotics initiated negotiations with the creditor whose petition led to the original bankruptcy decree. A commercial resolution is sought. Payment would come from the IRIS equity facility proceeds. This signifies a major step towards resolving past issues. The **Nasdaq Copenhagen** trading suspension, however, remains. Shares have been halted since December 19, 2025. Shape Robotics argues the basis for the suspension no longer applies. The bankruptcy is annulled. The primary creditor is negotiating. The company urges Nasdaq to restore trading. Resumption is essential. It enables the financing and the creditor settlement.
Shape Robotics has notified multiple bodies. These include Sø- og Handelsretten, Advokatnævnet (Danish Bar Complaints Board), and Advokatsamfundet (Danish Bar Association). The company issued a final deadline. If funds and corporate records are not returned by end of business Friday, March 13, 2026, criminal complaints will follow. These target Teis Gullitz-Wormslev, Kromann Reumert, and Danske Bank. Charges include misappropriation of company assets, obstruction, and abuse of **fiduciary duty**.
This ongoing saga extends beyond the current events. Shape Robotics previously filed a complaint with Nasdaq Copenhagen. This concerned suspected **market manipulation**. It involved Carnegie Investment Bank. The firm alleges significant shareholder destruction. The fight for **shareholder value** is central to Shape Robotics' mission. Its 5,000 retail investors await resolution.
Shape Robotics remains committed. It seeks justice and corporate accountability. The company is fighting to rebuild its operations. It aims to protect its investors. The outcome of this high-stakes confrontation will resonate across the **capital markets** and influence standards of **business ethics** in Denmark.