DSB asks court for new deadline to seal deal

Friday 16 October 2009

The boss of independent bank DSB, which is on the verge of bankruptcy, has asked Amsterdam district court to give him until late on Sunday to try to reach a deal with a potential US buyer.

The court went in to closed session on Friday afternoon after Dirk Scheringa submitted documents showing there was interest in the bank from outside the Netherlands.

The five big Dutch banks have all declined to be involved in a rescue package, according to media reports.

According to union officials quoted in the Telegraaf, the American institution is ready to fly people out to go through DSB's books.

DSB is on the point of collapse because thousands of clients withdrew some €600m in savings following a campaign by customers who claim they have been oversold mortgages and insurance.

Around 100 DSB workers have gathered outside the court to support Scheringa, a former policeman who went on to create a financial empire. DSB was granted a banking licence four years ago.

More on this
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Insurance agents warned about DSB
MPs demand answers from finance minister
DSB in hands of administrators
DSB boss took millions from 'his' bank

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© DutchNews.nl

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