GAME OVER Day 6: The Three Claims That Changed Everything
Three criminal and regulatory complaints. 117 pages of evidence. Every annex embedded. Every fact documented. Today we explain exactly what Shape Robotics filed, why, and what it means.
Wild CEO — The Journey
Mark Abraham
CEO, Shape Robotics AS
March 15, 2026
Introduction
This is the most important post in this series. If you read only one, read this one.
Today — Sunday, March 15, 2026 — I hosted a live session with shareholders to explain the three formal complaints that Shape Robotics AS filed yesterday. The audio and video of that session are attached below.
But I know not everyone has time to listen to an hour-long conversation, and many of you are asking the same questions privately on LinkedIn, WhatsApp, and Nordnet. So here it is. Everything. Explained simply, so that anyone — whether you are a shareholder, a journalist, a regulator, or a curious observer — can understand exactly what is happening, what we filed, and why.
On March 5, 2026, a panel of three judges at Østre Landsret — the Eastern High Court of Denmark — unanimously annulled the bankruptcy decree against Shape Robotics AS. The reason was straightforward: the original bankruptcy petition was never lawfully served on the company or its management, in violation of both Danish procedural law and EU Regulation 2020/1784. The bankruptcy should never have been declared in the first place.
The legal effect is called restitutio in integrum — everything must be restored to how it was before the bankruptcy. The company’s management rights are automatically restored under Konkurslov § 29. Shape Robotics AS is not bankrupt. Has not been bankrupt since March 5.
This is not an opinion. This is the final decision of Denmark’s second-highest court, and it is binding on everyone.
What happened after this ruling is the reason we filed three complaints.
Complaint 1: Criminal Complaint Against Kromann Reumert (§ 535)
Filed with: Østre Landsret, NSK, DFSA, Advokatnævnet
Legal basis: Retsplejeloven § 535, stk. 1 — intentional non-compliance with a court order
Respondents: Teis Gullitz-Wormslev; Kromann Reumert Advokatpartnerselskab
Teis Gullitz-Wormslev of Kromann Reumert was appointed as trustee (kurator) of the Shape Robotics bankruptcy estate on January 6, 2026. For 59 days, he had total control of the company — he was effectively the CEO and the board in one person. He controlled every bank account, every contract, every piece of intellectual property, every subsidiary.
On March 5, 2026, the High Court annulled the bankruptcy. From that moment, his authority ended. Under Konkurslov § 114, stk. 3, a former trustee has a statutory duty to immediately hand over all documents and property relating to the estate.
It has been ten days. He has not returned anything. The only document we received is the creditor list (Gældbog.pdf), delivered on March 10.
§ 535 of the Danish Administration of Justice Act says anyone who intentionally violates a court order can be sentenced to a fine or imprisonment up to four months. Each day of continued refusal is a separate offence. This is not a gray area. The court ordered the annulment. The former trustee must hand over everything. He has not. He knows exactly what he holds — because he listed it all himself.
The trustee’s own report to creditors — Kreditorinformation 2, dated January 26, 2026 — confirms he held and administered all financial records, all bank account access (Danske Bank, Revolut, Wise), all corporate correspondence, all contracts, licences, intellectual property, and patent filings, all records relating to five subsidiaries in inland, Romania, Moldova, and Poland, and all funds on the estate’s account and the Kromann Reumert client account.
He was supposed to be a neutral court officer. Instead, he was Danske Bank’s own lawyer, appointed as trustee of the company Danske Bank wanted bankrupted. And he refused to hand it back.
What We Are Asking For:
1. Investigation of Teis Gullitz-Wormslev and Kromann Reumert for intentional non-compliance with the High Court ruling
2. Recognition that each day of continued refusal is a separate criminal offence
3. Immediate handover of all company property
Shape Robotics reserves all rights to pursue full damages.
Complaint 2: Criminal Complaint Against Nasdaq Copenhagen (§ 535)
Filed with: Østre Landsret, NSK, DFSA
Legal basis: Retsplejeloven § 535, stk. 1
Respondent: Nasdaq Copenhagen AS
On March 5, the High Court annulled the bankruptcy. From that moment, the legal basis for suspending trading in Shape Robotics shares ceased to exist. More than 4,800 shareholders have been locked out of their shares for 59 days during the bankruptcy. Now, ten days after the annulment, they are still locked out. Nasdaq has not lifted the suspension. Nasdaq has not even properly informed the market about the annulment.
What We Are Asking For:
1. Criminal investigation of Nasdaq Copenhagen for intentional non-compliance with the High Court ruling
2. Criminal proceedings with penalties of fine or imprisonment up to 4 months
3. Immediate lifting of the trading suspension as an interim measure
4. Investigation of the misleading market announcement of March 13
5. Full protection for the 4,800 affected shareholders
Complaint 3: DFSA Complaint — Market Abuse and Selective Disclosure
Filed with: Danish Financial Supervisory Authority (Finanstilsynet)
Legal basis: EU Market Abuse Regulation (MAR), Article 17(1)
Respondent: Advokat Teis Gullitz-Wormslev, acting as de facto management of a Nasdaq-listed company
From January 6 to March 5, 2026 — a period of 59 days — the trustee issued zero company announcements (selskabsmeddelelser) to Nasdaq Copenhagen. Zero.
During this period, the trustee possessed material inside information including: total liabilities of DKK 340 million against assets of DKK 3,722; cancellation of the EGM without market disclosure; destruction of Sanako Oy (written to zero without independent valuation); insolvency of the Romanian subsidiary; a pending appeal at stre Landsret; and an undisclosed conflict of interest as simultaneous attorney for Danske Bank and EIFO.
This is not mere non-disclosure. This is selective disclosure — communicating material facts to some parties while deliberately excluding the 4,800 shareholders who owned the company.
We documented seven comparable bankruptcies on Nasdaq Nordic. Every single one aintained regular market disclosures during the trusteeship. Shape Robotics is the only case — and on the highest regulatory tier (Main Market) — with zero disclosures.
What We Are Asking the DFSA:
1. Investigate the systematic failure to disclose inside information during the 59-day period
2. Investigate the undisclosed cancellation of the EGM and its impact on the IRIS financing facility
3. Investigate the destruction of Sanako Oy — written to zero without independent valuation
4. Investigate the undisclosed conflict of interest
5. Investigate the selective disclosure to creditors and press while shareholders received nothing
6. Provide Shape Robotics with the § 110, stk. 4 report submitted by the trustee
7. Assess whether enforcement action is warranted against the trustee and Kromann Reumert
8. Treat this complaint as the DFSA’s highest priority
What You Heard in the Live Session
For those who will listen to the audio or watch the video, here is a summary of the key points discussed with shareholders today:
On the state of the company: Shape Robotics has transformed from a robotics company into a litigation machine. What remains is the legal rights of the company and its shareholders, and those rights have enormous value.
On IRIS Capital: IRIS is still committed. The equity line facility remains available. But IRIS buys shares — and shares cannot be sold while trading is suspended.
On the subsidiaries: Based on preliminary information, there are no subsidiaries left. Sanako Oy in Finland went bankrupt during the trustee’s mandate. The Romanian subsidiaries are in bankruptcy or pending bankruptcy proceedings.
On what shareholders can do: I recommended that shareholders consider calling an Extraordinary General Meeting. Under Danish law, 5% of shares is sufficient to convene an EGM.
On the documents: We still have not received a single document from the former trustee beyond the creditor list. De jure, I am the CEO. De facto, the former trustee still controls everything.
On the Nasdaq complaint: The criminal complaint against Nasdaq is based on their refusal to lift the trading suspension after the High Court annulled the bankruptcy. Every day that passes without lifting the suspension is a separate criminal offence under § 535. Nasdaq’s own announcement on March 13 was misleading — it referenced a bankruptcy that no longer existed.
On the trustee’s conflict of interest: Kromann Reumert simultaneously represented Danske Bank — the petitioning creditor — and served as court-appointed trustee. This dual role was never disclosed to the court or to shareholders. The trustee had a direct financial interest in maintaining the bankruptcy that his own client initiated.
On Sanako Oy: The Finnish subsidiary was written to zero during the trusteeship without any independent valuation. Sanako was a functioning company with revenue, employees, and intellectual property. Its destruction under the trustee’s watch is now the subject of a formal DFSA investigation request.
On the DKK 340 million in claims: The creditor list reveals total claims of DKK 340 million against assets of DKK 3,722. Many of these claims appear inflated or duplicative. The company intends to challenge every single claim that is not properly documented.
On what comes next: Monday, March 16, is the deadline. The institutions must respond. If they do not, the criminal complaints escalate automatically. Every day of non-compliance is a new offence. The filings are public. The evidence is embedded. There is nowhere to hide.
This is not about Shape Robotics anymore. This is about whether Denmark is a country where the rule of law means something.
If they can do this to Shape Robotics, they can do it to any company. If a High Court ruling can be ignored for ten days with no consequences, what is the point of having a court system?
All three complaints — totaling 117 pages with all annexes embedded — are publicly available. The company announcement has been filed. The DFSA has been notified. The National Special Crime Unit has been notified. The Bar Complaints Board has been notified. Østre Landsret has been notified. Every fact is documented. Every claim is sourced. Every annex is embedded in the filings themselves.
Monday, March 16, the institutions will have to respond. The criminal complaints are on file. The DFSA complaint is on file. Every day that passes without compliance is a separate criminal offence under § 535.
We will continue to fight for every shareholder’s right. We will continue to document everything publicly. We will continue to show proof.
They thought they could make it go away. They cannot.
Game over.
Mark Abraham
CEO, Shape Robotics AS
March 15, 2026
This post is part of Wild CEO — The Journey, a series documenting what happens when a CEO refuses to stay silent about corporate misconduct in Scandinavia. Subscribe to follow the story as it unfolds. Share it with anyone who cares about corporate accountability, shareholder rights, and the rule of law.