The DSI confirms the validity of share leasing contracts
Dexia has reviewed the press release issued to-day by the DSI, concerning claims
related to share leasing contracts, which the former Bank Labouchere was one
of the main players on the Dutch market
Dexia notes with satisfaction that the DSI recognises the validity of such
contracts and the adequacy of the documentation utilised with the clients, who
could not ignore the existence of the risks attached thereto.
Dexia has also taken note of the position of the DSI on the question of the
banker's duty of care towards its clients, as well as on the treatment of the
"Depot Lease" type contracts, and does not agree with the approach
of the Commission. After careful review of individual cases, Dexia will consider
all available recourses against the decisions taken by the DSI.
It is reminded that Dexia has already put in place measures allowing the settling
of those cases where customers encounter difficulties. In particular, an independent
Commission has been nominated to examine such cases, and provisions have been
set aside to this effect.