FORTIS BLAMES DUTCH STATE FOR SHARE PRICE COLLAPSE

The prime minister, finance minister and central bank president are all to blame for the fact that shares in Fortis are now almost worthless, says the financial services group. And Fortis shareholders who want to claim damages should take the Dutch state to court, the company said in a statement that was part of a court hearing in Amsterdam last Thursday.

Shareholders lobby group VEB wants the company court to order an investigation into mismanagement at Fortis and the role of the state in rescuing the company. Since getting into financial difficulty in late September, Fortis has been split up. Fortis Nederland has been nationalised and parts of Fortis Belgium sold to BNP Paribas. (expatica.com)

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November 3, 2008