Monday 17 January 2022

Investors take on Dutch central bank over SNS

Four investors in nationalised financial services group SNS Reaal are taking legal action against the Dutch central bank, saying it is mainly responsible for the expropriation of their shares.

The bank was nationalised at the beginning of this month and finance minister Jeroen Dijsselbloem is refusing to compensate shareholders.

The four say the central bank’s January 27 decision to call on SNS Bank to try to raise €1.8bn in new capital within four days was an ‘impossible’ task and the primary reason for the nationalisation.

Leaks

Leaked documents also show the central bank was moving towards nationalisation long before this, the investors claim.

The investors are looking at joining forces with other interested groups for a joint claim.

On Monday the Council of State ruled Dijsselbloem was within his powers to nationalise the bank.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.