The state must pay 804 million euros plus interest to SNS bondholders. This is the decision of the Supreme Court after years of legal battle. Investors and bondholders came up empty-handed in 2013 when the government nationalized SNS Reaal and SNS Bank to prevent bankruptcy as a result of the credit crisis.
In the case, bondholders and expropriated shareholders of SNS took legal action against the state. Most of the compensation goes to the bondholders. These are people who had lent money to SNS.
Expropriated shareholders receive no money
Shareholders will not be awarded any compensation. According to the Supreme Court, the shares would have become worthless if the state had not intervened and SNS had gone bankrupt.
Due to the ruling of the Supreme Court, the state must pay the compensation definitively, there are no longer any legal remedies available to appeal against the verdict. The ministry calls on people who are eligible for compensation to register via the website www.toeslagsns.nl. They can submit an application there from 15 May.
- Is in cassation against payment of more than 800 million to bondholders SNS
- State must pay SNS investors 804 million for nationalization in 2013
