The Copenhagen City Court ruled on Monday that law firm Accura and two of its lawyers are not liable for businessman René Sindlev’s tax bill related to the luxury yacht “Parsifal III”. Sindlev sought compensation from Accura, arguing that the firm’s tax memorandum on potential tax consequences should have protected him from the taxation.

The tax authorities had determined that Sindlev owed 88 million kroner due to the availability of the yacht. Sindlev believed that the advisors should compensate him for the losses incurred from this taxation.

However, the court rejected Sindlev’s claim. The case was decided by a panel of three judges in the city court, a larger panel than typically presides over cases in that court.

René Sindlev is known for his success in building Pandora’s American business, which earned him 2.8 billion kroner.