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Stibbe advises Indover Bank

Stibbe advises Indover Bank

Stibbe advises Indover Bank

17.02.2014 NL law

 

Representing the trustees of Indover Bank in a major dispute with Bank Indonesia. Indover Bank was a Dutch merchant bank and a 100% subsidiary of Bank Indonesia, the central bank of the Republic of Indonesia. Indover Bank was declared bankrupt in December 2008. In legal proceedings before the District Court of Amsterdam, the trustees refuse the validation of a claim from Bank Indonesia to the amount of EUR 43 million and have submitted a counterclaim of at least EUR 71 million. According to the trustees, Bank Indonesia breached a guarantee under which Bank Indonesia had obliged itself to enable Indover Bank to meet its obligations.

 

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