DNB with a fright at undoing DSB Bank – Financieele Dagblad (Registration)

Supervisor De Nederlandsche Bank (DNB) has according to the court of Amsterdam not played a bad role in the bankruptcy of DSB Bank. In a statement to the court Wednesday swept all the arguments of the liquidators and victims of DSB of the table.

The receivers and the duped savers depositors had filed a case against DNB because they felt that the regulator in 2005 had no banking license may grant to DSB Bank. Nor would DNB made errors in ongoing supervision and in providing emergency financing. The trustees went for a claim by DNB € 600 million to € 1 billion.

Harder approach

According to the judge, however, there are many factors that led to the demise of DSB. Not shown is that the regulator should never grant a license, or has not sufficiently made use of its legal powers. The court follows the reasoning of the plaintiffs not the specific commercial company DSB tougher action made necessary by the regulator.

Attorney William Schonewille, assisting the duped savers DSB says shocked by the ruling. “The law demands that bank directors are fit and proper, but the judge did not need a banking experience or knowledge. How do you explain that the duped savers from? “

Schonewille want to talk to the other claimants on a possible appeal. “The judge has

finished far too easily from the case. Chances are that we live here may lodge an appeal, because there are good starting points.

Wellink

it was already clear for the proceedings against DNB that the liquidators and victims faced a tricky business. The last time trustees asked the regulator liable after bankruptcy was in the nineties. This led in 2006 to a ruling by the Supreme Court that judges must exercise restraint in claims against DNB.

The trustees felt under more confirmed in their opinion that DNB had the power too much slackening in the file DSB a statement of the then DNB president Nout Wellink. He said during a hearing in the House in 2010 that “we also had the knowledge of when further conditions on the permit must connect.

Curator Rutger Schimmelpenninck would request no substantive discussions on the court ruling. However, he says to himself the next time reflecting on next steps. The Association DSBdepositos.nl say they would consider going into appeal.