Further to Jøtul AS's (the "Company") non-payment of interest under its outstanding senior secured bonds (ISIN: NO0013106666) (the "Bonds") on January 15th, Nordic Trustee (the "Agent"), acting on the instruction given by an ad-hoc group of bondholders (the “AHG”), has today replaced certain board members of the Issuer through an acceleration of the Bonds, placing the Bonds on demand. While the newly appointed directors are independent in relation to the AHG, the AHG has stated that the intention behind the ...