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Stibbe represents bankruptcy trustrees Indover Bank

Stibbe represents bankruptcy trustrees Indover Bank

Stibbe represents bankruptcy trustrees Indover Bank

28.06.2019 NL law

Stibbe represented the bankruptcy trustees of the Dutch merchant bank, Indover Bank, in a major dispute with Bank Indonesia. Indover Bank was a 100% subsidiary of Bank Indonesia and was declared bankrupt in 2008.

The bankruptcy trustees rejected a EUR 40 million claim from Bank Indonesia and submitted a counterclaim of more than EUR 80 million. According to the bankruptcy trustees, Bank Indonesia breached a contractual guarantee under which it was obliged to enable Indover Bank to meet its obligations. In a decision of 28 June 2019, the Supreme Court dismissed the bankruptcy trustees' claim. 

 

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