Dutch banks await ‘wave of claims’

Dozens of private individuals are planning to take their banks and asset managers to court for failing in their duty during the credit crisis, the Financieele Dagblad reports on Monday.

The paper says many of the complaints focus on very long-term loans known as perpetuals. Private investors have sunk hundreds of millions of euros into perpetuals over the past few years but they have been hard hit by the crisis. In some cases, their value has shrunk by more than 90%.
The paper says ING and Van Lanschot are often mentioned by lawyers preparing to take legal action for investors.

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