NAM offers compensation for lost market value of houses

Gas extraction company NAM is to compensate home owners in Groningen who have lost money on house sales because of the company’s activities in the area.

The offer applies to houses sold after January 25 2013, the day economic affairs minister Henk Kamp confirmed to parliament that earthquakes in the northern province could become stronger than originally thought, website reports.

NAM says it will pay the difference between the sale price of a house and its market value in eight council areas.

It has set up a committee to evaluate claims and will pay compensation where a drop in house value can be shown.

The committee members include gas extraction ombudsman Leendert Klaassen and Jos aartsen, chairman of the board of Groningen university medical centre.


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