Dear all,
As promised I hereby send you an update on the latest developments (and especially the hearing at the Enterprise Chamber)
1. Hearing at the Enterprise Chamber
It was long and cost a lot of energy (two days of hearings from 10.00 a.m. until resp. 8 and 9 p.m.) but I was satisfied with the way things went). Not only because our lawyers did a superb job but also other lawyers have given their best shot while the lawyers on behalf of the Ministry of Finance appear to be not interested (no proper answers, internal contradictories, lacking or inadequate information)
The judges of the Enterprise Chamber were critical as usual but very receptive to our arguments.
It would be to much (and to technical) to try to summarize all the arguments in the petitions but generally speaking we have argued that a compensation based on the latest price on the stock exchange seems reasonable (because it contains all relevant and publicly known information) while we argued that the decision of the Dutch State to conmpenate for zero is based on:
· Wrong information
· Inadequate information
· Inadequate procedures
· Wrong assumptions
· Conspiracy Dutch State with Dutch Central Bank
The Enterprice Chamber have stated that they will raise a verdict as soon as possible. Normally it will take a few (up to 6) weeks and then the following alternatives emerge:
A. The Enterprise Chamber submits a final verdict whereby they:
1. Approves the compensation offered by the Ministry of Finance (compensation remains 0)
2. Approves our proposal (compensation equals the last price on the stock exchanges)
3. Determine a valuation themselves (somewhere between 0 and the latest price on the stock exchange)
B. The Enterprise Chamber submits a preliminary verdict whereby the:
1. Require additional information
2. Appoint experts
I am of course not in a position to adequately assess the most likely outcome but I expect the Enterprise Chamber to raise a preliminary verdict whereby I assume that that they will choose to appoint experts. The experys will conduct an investigation into all fact and circumstances and based on the gathered evidence propose a compensation to the Enterprise Chamber (and the Judge ultimately will make a final decision).
As soon as the breaking news is there I will immediately inform you through an update.