| Terra Securities ASA | |
|---|---|
 |
|
| Type | Subsidiary |
| Founded | 1997 |
| Headquarters | Oslo, Norway |
| Area served | Norway |
| Key people | Svein Erik Nordang (CEO) Gabriel Block-Watne (Chairman) |
| Industry | Financial services |
| Operating income | NOK 384 million |
| Net income | NOK 179 million |
| Employees | 63 (2007) |
| Parent | Terra Markets |
| Website | www.terra.as |
Terra Securities ASA was a Norwegian security company that sold various financial instruments, index options, hedge funds and other investment securities through 78 local savings banks that are members of Terra-Gruppen. A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity (called Christiania from 1624 to 1878 and Kristiania from 1878 to 1924 is the Capital and largest city of Norway. Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional Svein Erik Nordang (born November 17, 1968) is a Norwegian Businessperson and Broker. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Gabriel Block-Watne (born March 31, 1959) is a Norwegian Businessperson and Banker. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Financial services refer to services provided by the finance industry. In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses The krone ( sign: kr; code: NOK) is the Currency of Norway. The plural form is kroner. Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. Employment is a Contract between two parties, one being the employer and the other being the employee. A holding company is a company that owns part all or a majority of other companies' outstanding Stock. Terra Markets is a Norwegian security company associated with Terra-Gruppen. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Allmennaksjeselskap (lit Common Stock Company or ASA is the Norwegian term for a Public limited company. Norway ( Norwegian: Norge ( Bokmål) or Noreg ( Nynorsk) officially the Kingdom of Norway, is a Constitutional A security is a Fungible, Negotiable instrument representing financial value Financial instruments are cash evidence of an ownership interest in an entity or a contractual right to receive or deliver cash or another financial instrument A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment Sparebank is a Norwegian Savings bank without external owners Terra-Gruppen, branded as Terra is an alliance between 78 Norwegian Savings banks The umbrella company provides a number of services that In 2006 it had a market share of 1. 92 % on Oslo Stock Exchange, rating it as the 21st largest of 49 security companies in Norway. The Oslo Stock Exchange ( Oslo Børs) serves as the main market for trading in the shares of Norwegian companies. The company was a subsidiary of Terra Markets that is owned 66. Terra Markets is a Norwegian security company associated with Terra-Gruppen. 73% by Terra-Gruppen and the rest by the company management.
In 2007 the company was hit by the Terra Securities scandal that after having misinformed eight municipalities in Norway as to the risk of their investments. The Terra Securities scandal was a Scandal that became public in November 2007 and involved highly speculative investments by eight Municipalities of Norway in On November 28, 2007 the company filed for bankruptcy after the Financial Supervisory Authority of Norway had stripped Terra Securities of its brokerage license. For the town in Argentina, see 28 de Noviembre. Events Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their Creditors Creditors may file a bankruptcy petition against The Financial Supervisory Authority of Norway (Kredittilsynet is a Norwegian government agency responsible for supervision of financial companies [1]
References
- ^ Aftenposten (English edition) (2007-11-28). Aftenposten ( Norwegian for "Evening Post" is Norway 's second largest Newspaper (after Verdens Gang) with a circulation of 250 Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. For the town in Argentina, see 28 de Noviembre. Events Terra Securities bankrupt.
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