Backed down in SNS-case
By one of our reporters
ROTTERDAM-
Shareholders and creditors of SNS Reaal by the District Court of Rotterdam in their administrative proceedings against the Dutch Central Bank (DNB) declared inadmissible.
Bet it was tested by the accuracy of the way things are going in the four days around the nationalization, in January 2013. The Supervisory Review & Evaluation Process that forced in January 2013 SNS Bank DNB within 10 days for € 1.84 billion equity to complete, was target of a subordinated bond holders group and the Association of (VEB). Because supplementing failed SNS Reaal was nationalized.
The Court ruled that only one interested party is allowed to object, this procedure purely SNS Bank itself. Who made that later drew in objection, but in 2013.
According to the complainants could inadmissible SNS Bank to the requirements of the Dutch Central Bank meet impossible, making it certain that SNS Reaal would be nationalized.
However, the compensation procedure for the complainants the enterprise far more important. The case in Rotterdam serves above all to clear the way for an action before the European Court as possible. That allowed only if all national resources are exhausted.
