Tuesday, June 26, 2007

Mixed legal advice on ABN AMRO verdict of Enterprise court

The advice of the attoreny general ni the ABN AMRO case is that article 2.8 of our civil law book cannot be used to deny ABN AMRO the right to sale LaSalle. In that respect the previous court ruling was incorrect. The advice does continue however, stating that it leaves open the question whether or not the ABN AMRO board acted unlawful/unreasonable towards its shareholders, given the desire of the RBS consortium to also buy ABN AMRO.

My guess, if anything, is that the supreme court in the Netherlands may thus rule that the initial verdict of the enterprise court was article-wise wrong, but morally and in a broader legal sense right.