Legal boost for Begaclaim

The long-running legal battle over a bourse-listed claim for damages set up by business tycoon Joep van de Nieuwenhuyzen took a step nearer completion today as the appeal court ruled there should be a partial retrial.

The Begaclaim foundation was launched up by Van den Nieuwenhuyzen to sue the state for damaging his reputation after he was found not guilty of insider trading in the early 1990s.The 1.2 bn guilder (550,000 euro) claim was listed on the Amsterdam stock exchange in 1997. In 2004, the court in The Hague rejected the damages claim demand, but now the appeal court has said there should be a partial retrial. Insiders say this considerably boosts Begaclaim’s chance of success.

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