The Minister of Finance was entitled to expropriate the securities– including shares, subordinated bonds, and participation certificates – and subordinated private loans of SNS Bank and SNS REAAL on 1 February 2013, but not future claims. This follows from a judgment of the Administrative Jurisdiction Division of the Council of State.
Numerous organisations – including the investors association VEB, the SNS bond holders, the trade union FNV - and private individuals had lodged an appeal with the Council of State against the expropriation. There is no appeal against the judgment.
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