The Appeals Tribunal for business (Tribunal) on Tuesday a previous ruling on this by the Court of Rotterdam confirmed. The Tribunal is final judge in this case.
Prior to the nationalization of the bank, DNB decided that SNS should ensure that the core capital, the pot of money as a buffer to huge losses, was completed. This did not work out and this decision followed the nationalization of the bank.
In 2014 declared the Rotterdam court that the security holders of SNS could not appeal against this decision by DNB.
Only parties with a decision direct interest can against litigation in administrative court. The securities holders had a secondary interest. Only SNS had a direct interest.
Disappointed
The Foundation Bondholders SNS, which represents investors, reacts disappointed. French President Faas notes that SNS initially objected to the decision of DNB. But the bank-insurer withdrew its complaints according to Faas later, after there had come to be at the helm of the group’s new directors with the nationalization.
The procedure on the role of DNB is not the main case for the former shareholders and subordinated creditors of SNS. There is a case before the Enterprise Chamber of the Amsterdam Court about a possible compensation for their expropriated by the state documents
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