press release

The Duisenberg Arrangement is granted binding force by the Amsterdam Court of Appeal

Today, on January 25, 2007 the Amsterdam Court of Appeal granted binding force to the Duisenberg Arrangement, based on the "Law on Collective Settlement of Mass Damage".
Dexia Bank Nederland and the Interest Groups (foundations Leaseverlies and Eegalease, the Consumentenbond (Dutch Consumer's association) and the Vereniging van Effectenbezitters (Dutch Association of Security holders)) had reached, as announced on April 29, 2005 (*), an agreement ("the Duisenberg Arrangement"), which provides for a global settlement for clients with share leasing products who ended, or will end, their contracts with a residual debt.
Pursuant to the Court of Appeal's judgement, the application of the "Law on Collective Settlement of Mass Damage" will bind all concerned clients to the Duisenberg Arrangement as long as they do not "opt-out" within a six month period.
This decision marks an important step in the resolution of the share leasing issue in the Netherlands.
(*) see (press releases and activity reports)
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